Canopius hit hard by catastrophe losses
Canopius has suffered a tough 2011 posting a multi-million pound loss and a three figure combined operating ratio (COR).
The insurer, which owns broking firm K Drewe and provides capacity for Arista, posted a £64m loss before tax and combined operating ratio (COR) of 111% for 2011.
Canopius secured £616m in gross written premiums, up from £564m in 2010, but in line with its peers, was hit hard by catastrophe losses.
According to Canopius, 24% of its 111% COR, was attributable to catastrophes.
Michael Watson, executive chairman of Canopius, commented: “The string of natural catastrophe events during 2011 resulted
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Bspoke sets marker with £5.17m turnover in inaugural accounts
Bspoke Insurance Group has forecast returning to profit after achieving £5.17m of turnover but post-tax losses in its first five months of trading since being formed out of UK General and Precision Partnership.
Shire Insurance returns to Ecclesiastical for vet schemes
Veterinary sector specialist broker Shire Insurance has teamed up again with Ecclesiastical on all schemes business after a two-year hiatus.
Covéa cuts losses but underwriting deficit grows
Covéa Insurance has posted an £87.3m loss after tax for last year with underwriting losses across commercial, personal and speciality lines.
Allianz hails “milestone” with updated trade credit offering
Allianz Trade UK has refreshed its trade credit insurance product suite.
Rokstone acquires box at Lloyd’s
Managing general agent Rokstone has taken box 355 located on gallery three at Lloyd’s, in a three year deal.
MGA Blagrove resumes trading after securing Accredited capacity
Blagrove Underwriting Agency and two MGAs it supports with capacity have today resumed offering quotations and renewing polices, Insurance Age can reveal.
Iprism trebles profit to £1.8m in 2023 results
Iprism Underwriting Agency has more than trebled its profit for the financial year ended 30 June 2023 according to its latest Companies House filing.
RSA confirms trading structure ahead of NIG integration
RSA Insurance today confirmed its new regional trading structure ahead of the integration of NIG on 1 May.
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- RSA confirms trading structure ahead of NIG integration
- In Depth: Cyber risk and AI – friend or foe?