Lloyd's managing agent, Hardy Underwriting, has posted a 7% profit on £50.2m capacity on Syndicate 382 for its 2000 year of account.
On the 2001 year of account Hardy forecast a profit of between 6.5% and 11.5% on £50.3m capacity.
Commenting on its 2002 year of account, Hardy revealed that trading conditions differed between its classes of business but, overall, rating levels were good, it said.
Hardy said it was experiencing favourable trading during 2003, with rates holding up in its core business classes.
Underwriting group chief executive Barbara Merry said: "These figures provide further testimony to Syndicate 382's excellent track record since its inception in 1975.
"Our focus on niche markets continues and the current favourable trading environment, coupled with our strong balance sheet, should enable us to take optimum advantage of further underwriting opportunities as they appear."
