Profits rocket at Catlin
Catlin Group has reported net income of $305m [£194m] for 2012, up more than 800% from the $38m reported in 2011.
Gross written premiums (GWP) amounted to $4.97bn, compared with $4.51bn the year before.
The company’s London/UK hub contributed $2.53bn to the total GWP, up by 8% from the $2.34bn reported in 2011.
The group stated that the largest driver of this increase - "the first meaningful increase since 2007" - was continued traction in its UK motor account, particularly through its Insure the Box telematics product.
Catlin further highlighted that the UK operation benefited from pricing corrections in
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