SVB Holdings announces preliminary results for 2003
SVB Holdings has announced its preliminary results for 2003 with operating profit up 190% to £31.6m from £10.9m in 2002.
Its combined ratio for 2003 fell to 99.9% an improvement on 2002, which saw a ratio of 107.2%. The insurer also raised £120m of new capital and achieved a year-on-year premium rate increase of 3% onOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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