Chaucer: it will take time to decide whether a bid will be forthcoming
Chaucer this morning reported an underwriting profit before investment income of £33.0m (2007: £75.5m) for 2008 on gross written premiums up 26.9% to £741.0m (2007: £584.1m). Its net earned premiums were up 23.1% to £547.2m (2007: £444.5m) and it recorded a combined ratio of 93.9% (2007: 82.6%).
The group reported a pretax loss of £26.2m, down from a profit of £41.7m in 2007.
Chaucer, which has been subject of a number of approaches by Lloyd's (re)insurance rivals, said: "As previously
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