Hardy Underwriting reported that pretax profit more than doubled in the 12 months ending 31 December 2003.
It said pretax profit grew to £14.35m for 2003, up from £6.66m the previous year. The company increased its dividend by 14% to 8.25p.
Gross written premiums increased from £49.5m in 2002, to £59.2m for 2003.
Chairman Peter Hardy said: “We remain enthusiastic about the rating environment overall and, despite some falling off in certain classes, believe that rates are at a very acceptable level, in some cases better than at the peak of the last hard market.
“It follows, therefore, that all being well, there should be reasonable profits to be made for a while yet.
