Premium levels for non-marine business in the London company market have increased...

Premium levels for non-marine business in the London company market have increased for the third year in a row, according to the International Underwriting Association (IUA).

A total of £1.66bn worth of premiums have so far been processed by Xchanging Ins-sure for the company market for the 2004 underwriting year, up from £1.62bn in 2003 and £1.59bn in 2002.

“Fundamentally our market does appear to be in good health, although a more exact picture will only emerge as outstanding premiums and claims are processed,” said IUA chief executive Dave Matcham.

In marine, aviation and transport classes, total premiums processed so far for 2004 are £674.7m, 11% down on 2003's £747.5m, but still considerably higher than the end of year levels recorded throughout the late 1990s and up to 2001, the IUA said.

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