Premium income written was £228.9m
Chaucer Holdings has provided the following update on current trading:
Premium income written, net of brokerage, to the end of April 2007 was £228.9m (2006 £228.8m), or 50.4% (2006 49.5%) of the combined planned income for Syndicates 1084 and 1176 for the year.
Chaucer expected a 2% reduction in premium rates in 2007 across non-motor divisions as a whole and a 2% rise in UK motor rates.
Investment balance grew by 2% to £850m during the first four months of the year. Investment income to April 30 2007 amounted to £17.2m. The return for the period was 2.2%.
Ewen Gilmour, chief executive officer of Chaucer, commented: “With a solid start to the year behind us and continued progress from our open years to report, I am confident of another positive year for Chaucer.”
