Net written premiums rise fifty percent to £156.6m
Heritage Underwriting Agency has reported 2007 pretax profits of £23.3m, up from £10.3m the previous year.
Net written premium rose to £156.6m from £97.1m, while net earned premium rose to £135.1m from £75.1m.
In a statement the company said the rise was due to consecutive benign hurricane seasons and good underwriting discipline.
The company has also confirmed a progressive dividend policy for 2008 and beyond. It has recommended a final dividend of 6.0 pence a share compared with 2.5 pence declared a year earlier.
The company said: "[We] see price reduction in some classes but [are] confident that selective underwriting will yield economic returns."
chief executive Richard Pexton added: "We are holding firm on our core value of not sacrificing profit for volume."
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