Zurich Financial Services reported a 333% leap in profits for its general insurance operations in its year-end results. UK standalone figures were not available.
The results, for the 12 months ending 31 December 2003, shot up from $435m in 2002 to $1.8bn for 2003.
Gross written premiums for its general insurance operations grew 22% to $36.2bn, with the combined ratio improving 5.6% to 97.9%.
It put the improvements in its performance in the general insurance sector down to better claims handling, improved underwriting and more disciplined pricing against a background of generally firm rates in the company's key markets.
For the group, gross written premiums increased by 18%, reaching $48.9bn for 2003. Net income rose from a loss of $3.3bn for 2002, to a profit of $2.1bn.
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.
