Published in Citadel News September 2012.
Added to our site on Wednesday 5th September 2012, 15:09p.m.
Citadel Reinsurance Company Limited issues its 1st half year 2012 results
Highlights for the first half year are:
• Underwriting profit of $2.917m • Net Earnings $2.639m • Net assets $23.309m • Loss ratio 49.54% • Combined ratio 64.36%
Tony Weller (Group CEO) commented; “We had a relatively difficult 2011 so I am very pleased to announce the 1st half year figures for Citadel. Whilst I doubt we will replicate the same sort of results in the second half of the year, we are progressing very well so far”