Allied World’s profit grows more than 8%

Bermuda-based property/casualty insurer and reinsurer Allied World Assurance Co. Ltd.'s profit grew more than 8% to more than $80 million in the first quarter despite posting $11 million in cyclone losses, The Royal Gazette reported. The insurer's gross written premiums remained almost flat at nearly $861 million. "Looking ahead, I feel that we are well-positioned for continued growth in our core specialty business," said Scott Carmilani, president of Allied World.

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