Willis $10m drop
Willis Group Holdings reported a net income drop of $10m (£5.3m) after its decision to abandon contingent commission incomes. Its net income dropped to $108m (£57m) in the 2004 fourth quarter compared to $118m (£62.3m) in the fourth quarter of 2003.
Axis income drop
Bermuda-based Axis Capital Holdings' net income for 2004 dropped to $495m (£262m) compared with $532.3m (£281m) in 2003. It reported net income for the fourth quarter of $181.1m (£95.6m), compared to $160.5m (£84.7m) in 2003.
Wellington profit
Wellington Underwriting Agencies said its final profit for the 2002 year of account was 12.8% of capacity. Underwriting capacity for the year was £642.2m. It also said its initial forecast range for the 2004 year of account would be between 8% and 15% of capacity. Underwriting capacity for 2004 year of account was £728.8m.
Ascot tops $2bn
Ascot topped $2bn premium income since it was established in November 2001. Its underwriting capacity for 2005 stands at £410m.
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.
