Profits at Scandinavian insurer IF P&C increased by £1.5m in the third quarter of 2000, according to the company's results.

The property and casualty insurer said its combined ratio improved from 111% to 106% as a result of an increase in premiums and a lower frequency of claims in the summer period.

It said its claims ratio had also decreased from 89.4% to 84.4% due to fewer large claims in property, its largest line of business.