SVB has made a £17.1m after-tax loss for 2005. This represents a considerable improvement on the Lloyd's insurer's £90.1m loss for the previous year.
SVB's gross premium revenue fell from £466.9m to £366.6m, while its net premium revenue declined from £417.1m to £270.6m.
The company posted an operating profit of £2.9m, compared with a £101.5m loss for 2004. It made a loss before tax of £13.9m.
SVB's combined ratio deteriorated from 89.4% to 95.2%.
Matthew Fosh, SVB's chief executive, said: "Despite an unprecedented series of catastrophe events, and whilst still carrying a fading burden from our discontinued legacy business, we have again achieved a top quartile underwriting performance and generated an operating profit."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
