Wellington Underwriting has reported a pre-tax profit of £30.9m for the year ending 31 December 2002.
This compared with a loss of £67.7m in 2001.
Net premiums written in 2002 were £269.2m, compared to £238.7m in 2001.
The company's 2002 managed underwriting capacity increased by 92% to £963m, as a result of qualifying quota shares and a consortium syndicate agreement reached with Berkshire Hathaway.
Meanwhile, the launch of Aspen, formerly Wellington Re, raised £448m through private equity investors.
Earnings per share in 2002 were 8.6p, versus a loss of 31.8p per share in 2001.
The company's combined ratio was 93%.
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.
