Antares returns profit of £12m and sub-100% COR
Antares' managed syndicate 1274 has reported a leap in profit to £16m for the full-year 2012 compared to a loss of £12.2m in 2011.
Gross written premium for the syndicate increased to £197m in 2012 (2011: £175m) while the combined operating ratio improved to 91% (2011: 110.6%).
The firm noted that Lloyd's approval is to increase
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