Lloyd's managing agent Chaucer reported pre-tax profits up 32% to £19.8m for the first six months of 2004. Last time around pre-tax profit was £15m.
Chaucer also reported an increase in gross written premium income of 10% to £221m for the fisr half of the year. And net earned premium income up 39% to £150.4m for the same period.
Chaucer's combined ratio improved to 82.8% compared with 89.6% in the first six months of 2003.
Commenting on the results, chief executive Ewen Gilmour said: "Underwriting conditions remain fundamentally sound, with the market motivated by the importance of maintaining discipline. The current hurricane season, though severe, provides opportunities for a group like ours.“
The Chaucer Group's total estimated net exposure to hurricanes Charley and Frances is between £8m and £12m and remains within budget for such events.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
