Hardy Underwriting Group said its indicative risk-based
capital (RBC) ratio for 2004 year of account is 47.5%.
This is broadly the same as the ratio for the 2003 and is unlikely to change materially unless there is a change to the 2004 business plan for syndicate 382, it said.
Chief executive Barbara Merry said: "The business written by syndicate 382 has a below average risk profile and this has been reflected within these ratios. Given the prospect of good underwriting results in this hard market, the returns on Hardy Group equity should be very encouraging."
