Insurance Post

Catlin announces record results

International property and casualty (re)insurer Catlin Group has announced record premium income and net income 31 December 2004.According to the company, net income increased to a record $154.1m (2003: $127m).Return on average equity was 19.1% (2003: 22.1%) and book value grew by 21.4% to $6.30 (£3.28) per share (2003: $5.19; £2.70).Gross premiums written rose to $1.43bn (2003: $1.20bn), while net premiums earned increased to $1.16bn (2003: $844.9m). Combined ratio was 89.4% (2003: 86.0%);