Wellington reports £26m loss
Wellington Underwriting has produced a pre-tax loss for the last financial year, after massive hurricane losses put its business into the red. In a statement this morning, the group's chief executive, Preben Prebensen, said:
"The pre-tax loss caused by the impact of hurricanes Katrina, Rita and Wilma in 2005 was clearly disappointing. Going forward we have responded by adjusting our risk profile, positioning us to benefit
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