Benfield Group Ltd. reported a 35 percent increase in profit before taxes for the first half of this year compared to the same period in 2005.
The London-based brokerage reported first-half income of $183 million compared with $135 million last year.
Group operating revenue rose 28 percent to $473 million from $368 million last year.
Chief Executive Officer Grahame Chilton said that “market conditions are challenging in loss affected areas, and given this we have not changed our expectations for the full year despite the exceptional first half.”
The group reported strong performance for the International Division with continued expansion in areas targeted from growth.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
