Wellington underwriting has announced a strong performance across the board in its 2004 year end results.

Profit before tax from group underwriting operations rose by 21% to 65.1m from £53.6m a year earlier. Net combined ratio remained strong despite a slight rise from 83.6% in 2003 to 86.8% in 2004 and a return on equity of 21.1%.

In its Lloyd's syndicate 2020 underwriting profits increased by 8% to £39.4m from £36.5m in 2003.

Chief executive Preben Prebensen said the results were ahead of expectations within the market.

Topics