Catlin Group reports increased GWP and profit
London underwriting hub saw decline in GWP due to increased competition in wholesale market.
Catlin Group has recorded gross written premium (GWP) of $5.3bn [£3.2bn] for 2013.
This is a 7% increase on the $4.9bn posted in 2012, with 53% of the total GWP contributed by the group’s non-London underwriting hubs.
Profit before tax climbed by 27%, from $339m to $432m, while net income jumped from $305m in 2012 to $392m.
GWP written by the London underwriting hub decreased by 2% whilst net underwriting contribution was “virtually flat”.
According to the provider, this performance was in line
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