Chartis turns from loss to profit

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The results for the year ended 31 December 2011 also showed a 10.2% rise in gross written premiums to $34.84bn (£22.05bn) with an improved combined operating ratio of 109% (2010: 116.8%).

A breakdown of the figures showed that Chartis increased its commercial net written premiums by $1bn to $21.47bn compared to the previous year, while operating income soared from $67m to $744m in 2011.

However the commercial COR remained in three figures at 111.2% (2010: 115.3%).

For personal lines business the

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