Lloyd's insurer Kiln has reported record profits before tax of £34.3m, an increase of 24% on the same period last year (2004: £27.6 million) on gross written premiums of £195.1m (2004: £162.4m).
Its combined ratio for the period was 83%, compared with 80% in the year-earlier period.
Kiln said its costs from Hurricane Katrina are expected to be £30-35m but that it expects Katrina to significantly improve the favourable underwriting environment.
Chief executive Edward Creasy, said: "Hurricane Katrina has brought devastation to the lives of many and the human cost is inestimable. The global insurance industry will be affected financially by Katrina; we believe, however, that it will result in a rise in prices overall and will generate good opportunities for Kiln as a specialist underwriter."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
