Specialist underwriter Goshawk Insurance Holdings, has improved its financial performance during 2002, posting a profit of £10.1m, up from a loss of £7.4m in 2001.
However its London operations generated an increased loss of £12.7m in 2002, up from £7.4m in 2001.
Specialist underwriter Goshawk Insurance Holdings, has improved its financial performance during 2002, posting a profit of £10.1m, up from a loss of £7.4m in 2001.
However its London operations generated an increased loss of £12.7m in 2002, up from £7.4m in 2001.
The overall group's return to profit was aided by a £22.8m contribution from its Bermuda operations.
Gross written premiums in 2002 for the group increased to £456.5m from £230.8m in 2001.
Chairman David Hooker said: "Following a robust performance in 2002, 2003 is set to be another year of achievement for Goshawk within our specialist business sectors which continue to enjoy a strong rating environment.
"We are committed to use this leverage prudently to fuel further expansion of the business in the areas that we know best."
