Insurance Post

Catastrophe losses hold back Hardy profits

barbara merry mar09

Hardy Underwriting’s profits halved to £10m during 2010, after it faced a string of international catastrophe losses with a net value of £37m.

Chief executive Barbara Merry said the events of 2010 "proved [the value] of our diversification approach" adding that the insurer has responded by re-underwriting parts of its international cat book

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