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Catlin profit more than doubles on better investment returns , pricing climate
August 8, 2014 / 6:21 AM / 3 years ago

Catlin profit more than doubles on better investment returns , pricing climate

LONDON, Aug 8 (Reuters) - Bermuda-based Catlin Group said first-half profit more than doubled as the insurer and reinsurer got a boost from better investment returns and more resilient pricing environments in the United States, Europe and Asia.

Catlin, the operator of the biggest syndicate in the Lloyd’s of London insurance market, said net premiums earned increased by 6.5 percent to $2.04 billion in the six months ended June.

Pretax profit rose 118 percent to $318 million.

Catlin’s investment return for the period rose to 1.6 percent from 0.2 percent, while the company raised its interim dividend by 5 percent to 17.7 cents. (Reporting by Richa Naidu; edited by Yousra Elbagir)

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