Hardy blames catastrophes for 111% COR
Hardy Underwriting has revealed a combined operating ratio (COR) of 111% for the first nine months of 2011.
Despite breaking through the 100% COR barrier the provider claimed that without the impact of catastrophes it would have achieved a rate of 78% which was evidence of its "disciplined approach to pricing and risk selection".
The Bermuda based insurer also stated that gross written premiums for the period grew by 21.8% to £278.1m compared with £256.3m in the same period of 2010.
The Lloyd's market company detailed that marine and aviation, non-marine and property treaty had all seen increases in
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