The IUA revealed premiums rose at a "steady" rate in the London Market during the last quarter. Results also showed improving loss ratios, falling from 70.4% in 2000 to 9.8% in 2002.
Marine, aviation and transport 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 premiums of £35.3m."
IUA chief executive 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."
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.
