year profit rose 33 percent.

For the 12 months ended December 31, the insurer made $28.8 million compared to $21.7 million.

Gross written premiums reached an all-time high of $109.6 million, up nine percent from $100.7 million in 1995.

The increase was spread across all three lines of the company's core business, general liability, excess directors and officers (D&O) and professional liability, the company said.

"By maintaining a focused approach to our core lines, we have continued to attract business from Fortune 500 companies world wide,'' Starr Excess senior vice president underwriting Michael Bouris said.

Total number of accounts increased six percent, the company added.

Total assets reached $536.0 million from $319.9 million, partly due to $100 million capital call from original shareholders. Total committed capital is $500 million.

Shareholders' equity rose to $263.2 million from $135.7 million due primarily to increased paid in surplus as well as retained earnings.

During the year, in addition to the capital call, the company expanded the maximum limits of liability that they offer in excess liability from $100 million to $150 million, reduced the attachment point from $50 million to $25 million for most classes and started to offer professional liability coverage.

"With attractive minimum attachment points, and $150 million for general liability coverage, we have been able to maintain and grow our position in an extremely competitive environment,'' Starr Excess senior vice president marketing Clinton Greene said.

Starr Excess said net written premiums were $108.5 compared to $100.7.

Loss ratio remained 80 percent while underwriting ratio was 16.7 compared to 16.5. Combined ratio was 96.7 compared to 96.5.