Chaucer reports ’satisfactory’ Q1 performance

by David Masters

Story link: Chaucer reports ’satisfactory’ Q1 performance

Lloyd’s insurer Chaucer Holdings PLC has reported its results for the first quarter, with gross written premiums up marginally on year to £181.2 million.

This is compared to gross written premiums of £178.9 million for the first quarter of 2007.

The London-based insurer said that despite no major catastrophes during the quarter, insured market losses were high.

Furthermore, a turbulent global financial market had an adverse affect on investment income.

However, the group’s car insurance division benefited from an improving UK market, with gross premiums for the division up 6.6% on year.

CEO Ewen Gilmour said that the results were ’satisfactory’ and in line with company expectations.