Wellington profits drop 44%
Welllington Underwriting has recorded a fall in profit before tax in 2004 to £78.1m — including the return on its investment in Aspen — compared to £116.7m in 2003.
Wellington CEO Preben Prebensen said: "Underwriting Operations which delivered £65.1m of profit before tax, an increase of over 20% from 2003, a net combined ratio of 86.8% and a return on equity ofOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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