Chaucer tightlipped on offer as it records 42.3% hike in GWP
Lloyd's insurer Chaucer this morning reported that total gross written premium income to the end of March 2009 was ahead of budget at £257.8m (2008 Q1 £181.2m), an increase of 42.3% It added underlying growth in premium income excluding Syndicate 4242 was £32.9m at constant exchange rates, an increase of 18.2%, and forecasted premium rates to increase by 5.9% in 2009 for its underwriting portfolio.
Chaucer saw its biggest GWP increases in property at £81.8m (Q1 2008: £ 57.5M); marine at £ 62m (Q1 2008: £30.6M and energy at £38.9m (Q1 2008 £29.2M)
As for rates, Chaucer was now forecasting
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