The results were helped by investment returns of $148 million
Jamie Dunkley8 August 2014
Shares in the Lloyd’s of London insurer Catlin rose almost 4% today as the company posted record, half-year profits.
Despite tough conditions across the industry, the company posted pre-tax profits of $318 million (£189.2 million) in the six months ending June 30, compared to $118 million last year.
The results were helped by investment returns of $148 million, up from $16 million.
The shares rose 26p to 512p.
Chief operating officer Paul Jardine said: “We report in August, which is in the middle of the hurricane season, so none of us know what’s going to happen in the second half of the year, but we’re confident that we’re well placed to meet any challenges ahead of us.”
