Wellington sees 33% rise despite rate softening
Wellington Underwriting has recorded a 33% increase in profit before tax for the six months ended 30 June to £32.4m (£24.3m) despite a softening of rates. The net combined ratio for the half year was 83% compared to 92% for the same period last year.
The company added that underlying the results was the technical result from its 56% participation on Syndicate 2020 which increased substantially at £31m compared to £18.7m for the same period lastOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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