Church insurer shows best underwriting results in five years

Posted On: Mar. 27, 2015 12:00 AM CST

U.K.-based insurer Ecclesiastical Insurance Group P.L.C. has posted pre-tax profit of £48.2 million ($71.5 million) in 2014, reports SouthWestBusiness.co.uk citing Gloucester Citizen‎.

Ecclesiastical, which specializes in insurance for churches, reported an underwriting profit of £9.2 million for the period. The insurer's 2014 combined underwriting profit from its general insurance businesses in Canada, Australia and Ireland totaled "£1.1 million ($1.6 million) compared to an underwriting loss of £14.4 million ($21.3 million) in 2013," said Ecclesiastical's group chief executive Mark Hews.