The IUA has revealed premiums rose at a "steady" rate in the London market during the last quarter.
The International Underwriting Association (IUA) has revealed premiums rose at a "steady" rate in the London market during the last quarter.
The association's results also revealed improving loss ratios, with ratios falling from 70.4% in 2000 to 9.8% in 2002.
Marine, aviation and transport (MAT) business produced premiums of £74m and claims of just £4.8m. The IUA said that premiums have risen from £742.7m in 2000 to £1122.8m last year.
An IUA statement said: "The statistics show premium of £856.7m for 2002 - more than double the total of £426.6m from 2000. For the first three months of 2003 this sector has posted premium of £35.3m.
"Non-marine premiums, excluding excess of loss, processed for the first quarter stand at £152.8m. The IUA has also now produced non-marine statistics going back to over the last two years which show premium at £1901.5m for 2001 rising to £1976.2m in 2002."
IUA chief executive officer Marie-Louise Rossi said: "These new statistics offer a much better insight into the state of the London company market. More comprehensive and produced more regularly, they offer a much improved service to the association's members."
