Limit, the division of Australian insurer QBE trading at Lloyd's, improved its combined operating ratio to 96.2% in the half year to 30 June from 98.1% in the same period the year before.
Limit's gross written premium (GWP) fell 5% to A$1.5bn (£626m) from A$1.6bn (£662m). Limit made its best gains on inward reinsurance, where the combined ratio improved to 86.1% from 89.1%.
QBE's European company operations improved its combined ratio to 96.4% from 100.5%. GWP was up 20% to A$1.4bn (£597m) from A$1.2bn (£499m).
The group's combined ratio for the half year was 96%, against 99% for the same period last year.
Insurance profit in the six months was A$259m (£107m) against A$160m (£66m). Total GWP increased to A$4.8bn (£1.9bn) from A$4.3bn (£1.8bn).
QBE results
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.
