Omega Underwriting Holdings said the final results for the 2001 year of account for Syndicate 958 was a profit of 6.2% on capacity before personal expenses.
It said the result was above the midpoint of the previously published forecast range for the Syndicate.
Omega said the forecast for the 2002 year of account was 16% to 21% before personal expenses. It said the 2002 account was continuing to develop in an encouraging manner.
The company said: “While the 2003 year is at a very early stage of development, the account is following very closely the trends of 2002, with similarly good claims experience.” It said the Syndicate had met its targets for the January renewal season.
Omega chief underwriting officer and Syndicate 958 underwriter John Robinson said: “It is obviously very pleasing to be able to announce a continuation of our record of profitability.
“We continue to enjoy a very strong underwriting environment in the market but, more importantly, I am confident that Omega's team will bring the same professional approach to any turn in the market cycle, as we have demonstrated so clearly in the past”
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