Fortis Insurance UK reports £76m profit for 2008

The company's non-life gross written premium (GWP) for 2008 was £760m, up £2m from the previous year. The reported non-life combined operating ratio after investment income improved to 92.2 per cent from 98.1 per cent in 2007.

Fortis' capital position ended the year at £346m, which is 2.82 times the minimum capital required by the FSA. The company has a low risk investment portfolio which increased in value by £43m in 2008 over the previous year.

Barry Smith, chief executive of Fortis UK commented