Chaucer reports profit
Chaucer reported a profit of 20.3% of capacity in its 2002 year of account for its syndicates 587, 1084 and 1096.
In the 2003 year of account, it forecast an increase in profits on stamp of between 16% and 21% in motor Syndicate 587, up from its previous forecast of 11.5% to 16.5%.
Atrium 2002 profits
Atrium reported profits of 11.3% of capacity in the closed 2002 year of account for syndicate 570. Syndicate 609 had profit of 13.6%.
It forecast profits of between 13.7% and 18.7% of its £324m capacity for syndicates 570 and 609 in the 2003 year of account.
In its 2004 year of account, the insurer forecast profits of between 4% and 14% of its £345m capacity.
HSBC Holdings
HSBC Holdings reported an 18% increase in its global income from insurance activities. Fees and commissions received rose from $2,009m (£1,046m) in 2003 to $2,369m (£1,233m) in 2004.
SVB 2002 profit
In its 2002 year of account, SVB syndicate 2147 reported a profit of 12.5% against an underwriting capacity of £154m.
SVB said the profit had been attained despite the damaging adverse impact of prior years.
Syndicates 1007 and 1241 achieved profits of 15.5% and 8.3% respectively on the 2002 year of account.
The group forecast a profit increase across its 2003 and 2004 year of accounts despite 2004 being a poor year for hurricane losses.
Brit 32% profit rise
Brit Insurance Holdings announced a higher than expected 32% increase in 2004 profits. Pre-tax profits rose from £77.6m in 2003 to £102.5m in 2004.
Gross written premiums increased from £1.016bn in 2003 to £1.087bn in 2004.
The groups' combined ratio showed a deterioration rising to 92.5% from 88.5% in 2003.
