Canopius delivers profit of £55m for 2009
Canopius Group, the privately-owned Lloyd’s insurance underwriting business, has reported profit before tax of £55m up from £43m in 2008 and profit before tax excluding foreign exchange on non-monetary items of £74m.
Canopius saw gross written premiums of £592m (2008: £457m) a 30% increase (17% at constant exchange rates) and improved combined ratio of 88.1% (2008 100.4%).
Return on equity (post tax) of 21.0%, up
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