Insurer Catlin says profits up on lower disaster claims
February 8, 2013 7:28 PM EST
Bermuda-based Catlin made a pre-tax profit of $339 million (215.5 million pounds) last year, up from $71 million in 2011, when insurers worldwide were hit by near-record claims due to a spate of natural disasters including Japan's Tohoku earthquake.
However, Catlin said it now expects a financial hit of $225 million from Superstorm Sandy, up from its initial estimate of $200 million.
It also said the shipwreck of the Costa Concordia cruise liner in January 2012 had cost it $51 million, compared with an earlier estimate of $35 million.
Catlin is paying a 2012 dividend of 29.5 pence per share, an increase of 5.4 percent.
(Reporting by Myles Neligan; editing by Tom Bill)
Most Popular Slideshows
- Slow-Moving Yet Unrelenting Hawaii Lava Now Only Inches Away From Pahoa Homes
- Kate Middleton Expecting A Baby Boy For The Second Time Around – Reports [PHOTOS]
- 2014 MLB World Series Game 6: Kansas City Royals 10, San Francisco Giants 0 [PHOTOS]
- San Francisco Giants Beat Kansas City Royals, 3-2 In Game 7, Wins 2014 MLB World Series [PHOTOS]
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- NATO: Russia's Been Conducting Too Many Military Flights Over Europe
- Moto X 2014 vs. Motorola DROID Turbo - Specifications, Features And Price Showdown
- Dismantling Of Fukushima Reactor 1 Faces Delays, US Judge Gives Sailor Go Signal To Push Through Lawsuit Against TEPCO Over Radiation
- Samsung Galaxy Note Edge To Be Available Through T-Mobile In The US
- Five Extreme Drop Tests On BlackBerry Passport Reveals Its Endurance [Watch Video]
- Updated iOS 8 Pangu Untethered Jailbreak Now Fully Works with Cydia: Key Fixes & Mods to Expect
- Ex-Ohio Trooper Pleads Guilty To Issuing Sex as Penalty To Women Motorists