Hardy Underwriting reported a rise in pretax profits in its first half results. Profits increased to £6.5m, compared with £1.9M for the same period last year.
Operating profits increased from £2.7m last year to £5.2m for the sic months to 30 June 2003.
Gross premiums written were £42.1m compared with £28.23 for the same period in 2002.
The combined ratio for Syndicate 382 fell to 79.8%, down from 91.2%.
Hardy said it intends to pay a full year dividend which will not be smaller than 2002's dividend.
Chairman Peter Hardy said the results had more than met his expectations.
