Performance by division

The year saw strong underwriting performances in often challenging market conditions across our six divisions.

Life, accident & health

Chris Branch
Head of life, accident & health
 

2010

$m

2009

$m

Gross premiums written

78.1

67.9

Net premiums written

71.4

63.4

Results from operating activities

4.7

(2.0)

Claims ratio

53%

54%

Expense ratio

44%

54%

Combined ratio

97%

108%

Rate change

-

N/A

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Marine

Clive Washbourn
Head of marine
 

2010

$m

2009

$m

Gross premiums written 261.7 265.0
Net premiums written 235.6 228.9
Results from operating activities 75.4 74.2
Claims ratio 38% 39%
Expense ratio 33% 35%
Combined ratio 71% 74%
Rate change (3%) 8%

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Political risks & contingency

Adrian Lewers
Head of political risks & contingency
 

2010

$m

2009

$m

Gross premiums written 100.9 127.6
Net premiums written 79.9 98.6
Results from operating activities 34.7 (7.7)
Claims ratio 29% 76%
Expense ratio 36% 36%
Combined ratio 65% 112%
Rate decrease (2%) (1%)
 

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Property

Jonathan Gray
Head of property
 

2010

$m

2009

$m

Gross premiums written 382.5 394.4
Net premiums written 283.8 283.1
Results from operating activities 24.2 10.5
Claims ratio 49% 58%
Expense ratio 48% 45%
Combined ratio 97% 103%
Rate increase/(decrease) (4%) 6%

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Reinsurance

Patrick Hartigan
Head of reinsurance
 

2010

$m

2009

$m

Gross premiums written

174.4

142.2

Net premiums written

134.4

117.3

Results from operating activities

19.2

53.2

Claims ratio

63%

33%

Expense ratio

27%

29%

Combined ratio

90%

62%

Rate change

(3%)

10%

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Specialty lines

Adrian Cox
Head of specialty lines
 

2010

$m

2009

$m

Gross premiums written 744.0 754.2
Net premiums written 597.0 540.1
Results from operating activities 78.2 116.8
Claims ratio 61% 61%
Expense ratio 32% 31%
Combined ratio 93% 92%
Rate decrease (2%) (1%)

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