NU Online News Service, Nov. 12, 3:10 a.m. EDT
Hamilton, Bermuda-based Catlin Group Limited, an international specialty property and casualty insurer and reinsurer, reported a 13 percent increase in net premiums earned for the first nine months of 2010 compared to 2009.
The company said about half of the increase is attributable to increases in premium volume and higher rates relating to business written in 2009 but not earned until 2010. The remainder is attributable to the embedded growth arising from the 2006 acquisition of Wellington Underwriting plc., the company said.
Gross premiums written for the 2010 third quarter were $3.2 billion, up 9 percent from $3.0 billion in 2009.
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