Hardy Underwriting reported improved pre-tax profits for the first half of 2004.
Hardy reported gross written premium increased 23% to £51.69m for the six months to 30 June 2004 compared with £42.14m for 2003.
It added that the combined ratio for Syndicate 382 was 78.7% for the first half compared with 79.8% in 2003 and that pre-tax profit increased 43% to £9.26m compared with £6.47m for the first half of 2003.
Chairman Peter Hardy said: "We are pleased to report such positive results for the six month period to 30
June 2004. While the combined ratio of 78.7% (2003: 79.8%) is testament to continuing strong underwriting performance, the most important feature of these accounts is the realisation of the stake in Atrium."
