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Chaucer posts improved 2006 results

Posted On: Mar. 19, 2007 12:00 AM CST

LONDON, England - Chaucer Holdings P.L.C. has announced its 2006 preliminary results.

Gross written premiums were up by 22.7% to £594 million ($1.16 billion) and profit after tax was up from £11.4 million ($22.18 million)to £59.3 million ($115.43 million). The combined ratio was down from 103% to 81.1%.

In its statement, the company said that all divisions made a profit with "strong contributions" in particular from the property and marine units.

Chaucer also sought to broaden its remit beyond Lloyd's of London with the establishment of Chaucer Asia in Singapore, in a bid to "attract high quality Asian energy risks."