Atrium Underwriting has said its 2003 and 2004 year of account forecasts for its underwriting portfolio and managed syndicates (570 and 609) are materially unchanged.
The total cost of the 2005 hurricanes for the group is estimated at £27.6m before tax
Atrium said Hurricane Katrina and Rita estimates are materially unchanged for group and managed syndicates. It added that initial Hurricane Wilma estimates are within expectations
Nick Marsh, Atrium ceo, said: "The recent hurricanes have acted as a catalyst for a marked improvement in insurance and reinsurance trading conditions. Opportunities for improved underwriting profits are emerging once more and we are focused on ensuring we capitalise on them."
