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The Bermudian-domiciled company’s portfolio of businesses includes fully-owned subsidiaries in the United States, Britain and a global asset manager

The company, which had been registered in Bermuda since 2008, completed its re-domiciliation to Singapore on July 1, the first day of the third quarter

Bermudian-based company says the result reflects a seasonal slowdown in the market

That is up 120 per cent compared with the first quarter of 2024

The company said its combined insurance service and net investment result under IFRS 17 was $21.6 million versus $31.3 million in 2023

Gross written premiums in the quarter were $132 million, which compares with $95 million in the second quarter of 2023

The Bermudian-based independent crude oil tanker company said the decrease was mainly due to a quarter-over-quarter decline in tanker rates

Net investment income decreased by $3.6 million or 33.9 per cent for the three months ended June 30

Profit fell 36 per cent to $53.7 million from $83.9 million in the second quarter of 2023

Insurer expects ample opportunity for future profitable growth

The division includes reinsurance businesses in London and Bermuda and insurance-linked securities activity written through Hiscox ILS

Bermudian-headquartered company reports all-time low combined ratio of 84.4 per cent