Benfield has reported a 35% increase in profit before tax to £97.8m (H1 2005: £72.3m) in its first half trading results but warned that expectations for the full year remain unchanged.
The Group said operating revenue rose 28% to £252.1m (H1 2005: £196.2m) and and said that its US division was experiencing "exceptional new business development and revenue growth".
It also said that significant new business had been won by Benfield Corporate Risk but added that it was "developing more slowly than anticipated in loss affected markets."
Grahame Chilton, chief executive of Benfield, said: “Market conditions are challenging in loss affected areas and given this we have not changed our expectations for the full year despite the exceptional first half."
At 9.30am, shares in Benfield were down less than 1% to 382.25p.
