Catlin soars into profit

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Catlin Group has reported profits of $231m [£148.3m] for the first six months of 2012, as opposed to a loss of $201m in the same period last year.

The international specialty property and casualty insurer and reinsurer, revealed that gross written premiums increased to $3.01bn (H1 2011: $2.68bn) while net written premiums were flat at $2.26bn (H1 2011: $2.27bn).

The Bermuda-based company also unveiled a notably improved combined operating ratio.

Last year it produced a COR of 116.5%, but this year's figure came in at 86.3%. The improvement was mainly driven by a dramatic drop in the loss ratio to 51.6% from 85% in the first half of 2011.

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Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

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