Goshawk Insurance Holdings said it expects to achieve a record profit in 2002 after it moved into the black in the first half of this year.
For the six months to June 30, the company posted an operating profit of £4.2m compared with a loss of £316,000, on gross written premiums of £240.9m, up 134% from £102.9m.
Goshawk declared an interim dividend of 1.0p, up 0.4p from last year, after omitting the payment of a final dividend.
Pre-tax profit stood at £4.2m compared with a £316,000 loss. Profit after tax was £6.3m against a loss of £316,000 last time.
Chief executive Chris Fagan said: "Rating conditions are excellent both in the London market and in Bermuda.
Our strategy of establishing a business in Bermuda was well timed and is paying off.
"The future of Goshawk's business has never been brighter and barring any catastrophic claims your Directors expect a record profit to be achieved for the full year in 2002."
