Chaucer profits down £20m
Lloyd's insurer Chaucer Holdings has announced 2005 pre tax profit of £11.9m, down from £33.0m in 2004, blaming its hurricane season losses of £68.5m.
Chaucer's gross written premiums increased by 23.8% to £484.2m, with net earned premiums up 12.8% to £324m.
The effect of the hurricanes was reflected in the combined ratio, which increased to 101.5%
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