Omega Insurance has reported that first half pretax profits doubled
Omega Insurance has reported that first half pretax profits doubled, thanks to a benign property and catastrophe insurance claims season.
Pretax profit for the first half of the year to end-June rose to $20.4m, up from $9.3m in the same period last year.
Gross written premiums for the period grew to $173.1m, up from $81.3m in the first half of last year.
Combined ratio for the period fell to 82% from 86% last year.
Omega added that the outlook for the 2007 full year of results and the 2008 underwriting year was 'positive', but did not give further detail.
