Chaucer Holdings has announced and “exceptional performance” for the year ended 31 December 2006.
Gross written premiums were up 22.7% to £594m, leading to a record profit before tax of £86.0m and a record return on equity of 37.7%.
The company announced a final dividend of 2.90p to give an annual dividend of 4.00p, an increase of 31.2%.
The combined ratio improved to 81.1% on a 100% basis.
Ewen Gilmour, chief executive officer, commented: “2006 was an exceptional year. After the challenges of 2005, the industry again demonstrated its unerring capacity to surprise, but this time more agreeably.
“I am delighted to report an outstanding year for Chaucer, rewarding shareholders with record profits, a market leading return on equity of 37.7% and a 31.2% increase in the annual dividend. I believe that the result underlines our ability to maximise the rewards for shareholders from good market conditions.
“The underwriting environment remains healthy and I am confident that Chaucer is well placed for further success in 2007.”
