Omega profits soar 92%
Profits at Omega Insurance, the Bermuda-based Lloyd's insurer, soared by 92% from $11.5m in 2005 to $22m last year. The company, which re-domiciled in November 2006, increased its gross written premiums significantly from $6.8m to $88.9m.
Atrium quadruples profits
Atrium Underwriting, the specialist Lloyd's insurer, has more than quadrupled its profits for 2006 after claims fell by more than half. The insurer reported a record pre-tax profit of £44.7m up from £10m in 2005. Its combined ratio for 2006 was 75%, a drop of 33%.