Hardy ups 2005 forecast
Hardy Underwriting Group, the specialist Lloyd’s insurer reported that the expected profit for Syndicate 382, which it owns and manages, for the year ended 2005 to be in the range 11% to 16% (previously 7.5% to 12.5 %). In accordance with Lloyd’s requirements, the 2006 year of account is subject to a formal published forecast for the first time. Taking into account unexpired exposures, Hardy said the estimated profit for the year to be in the range 11% to 16%.
Zurich GWP up 33%
Zurich Financial Services Group reported that its general insurance gross written premium for the half year was $19bn (£9.6bn), an increase of 3% compared to the first half of 2006. The group’s net income for the half year was $2.7bn, up 33% on the first half of 2006. Operating profit was $3.3bn, up 12% on the same period in 2006.