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Company benefited from strong underwriting results and good investment returns

The Bermuda reinsurer reported an improvement in underwriting profits

Gross written premiums grew by 8.3 per cent

Challenges during the bank’s systems upgrades are behind them as they seek to roll out more functionality

Net income represents a 24.6 per cent annualised net income return on average common equity

In-flight service will include reusable packaging to reduce waste and carbon emissions

The three months delivered significant profitability across all key metrics, including total shareholder return

Net income was up 13.3 per cent from the comparative period last year, as consolidated net premiums written rose 14.1 per cent

The half a billion dollar net income for 2023 compares to a net loss for the 2022 year

The reinsurer recognized a net deferred tax asset of $432 million related to the enactment of Bermuda’s Corporate Income Tax Act 2023

The increase was driven by improved underwriting and investment income

Underlying operating profits between 2022 and 2023 rose 46 per cent