Heritage Underwriting has today released its view on the outcome for 2006 and outlook for 2007.
Heritage described 2006 as "a strong year" for the company with large premium increases in catastrophe business, a benign claims back drop and a significant increase in our own underwriting capacity.
2006 written premium income was £262.6m, compared to £200.5m on the 2005 year of account, a 31% increase.
The company stated that market conditions for January 2007 renewals remain strong in its core business, worldwide property insurance, with rates on catastrophe exposed business rising further.
Premium income for the Agency as a whole was up to £77.3m up from £52.2m at the same time last year, a 48% increase.
Richard Pexton chief executive of Heritage said: "Our goals for 2006 were achieved, taking the company public by admission to AIM, and therefore substantially increasing the company's share of the agency's underwriting capacity, further strengthening our balance sheet and growing the
business in our specialty lines. We look forward to 2007 with confidence."
