Catlin soars into profit
Catlin Group has reported profits of $231m [£148.3m] for the first six months of 2012, as opposed to a loss of $201m in the same period last year.
The international specialty property and casualty insurer and reinsurer, revealed that gross written premiums increased to $3.01bn (H1 2011: $2.68bn) while net written premiums were flat at $2.26bn (H1 2011: $2.27bn).
The Bermuda-based company also unveiled a notably improved combined operating ratio.
Last year it produced a COR of 116.5%, but this year's figure came in at 86.3%. The improvement was mainly driven by a dramatic drop in the loss ratio to 51.6% from 85% in the first half of 2011.
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