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Catlin Group sees pre-tax profits rise 13% in 2014

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GWP rises as COR slips slightly.

Catlin Group has reported a 13% increase in pre-tax profits to $488m [£320.6m] from $432m in 2013.

Gross written premiums for the insurer rose to $5.97bn (2013: $5.31bn) for the year ended 31 December 2014.

The international speciality property and casualty provider also delivered a net underwriting contribution result of $991m (2013: $1bn).

The combined operating ratio drifted slightly to 86.8% from 85.6% the previous year.

Catlin also announced that it expected to pay a special dividend of 12p

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