Catlin toasts 27pc profit rise to $432m
Profit before tax rose to $432m in the year ended December 31 from $339m a year earlier.
Net premiums earned for 2013 rose 9.5 per cent. Gross premiums written rose 7 per cent with net underwriting contribution of about $1bn, benefitting from investment in underwriting hubs outside the London market.
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Hide AdCatlin, the operator of the biggest syndicate in the Lloyd’s of London insurance market, said it remains optimistic amid industry reports of very hard times in 2014 for insurers and reinsurers.
The insurer, led by Stephen Catlin, opened an office in Leeds in 2003.