Chaucer to stay UK-domiciled as profits dive
Chaucer's pre-tax first-half profits dived by 59 percent to £7mn in the first six months of the year as its combined ratio widened to 105 percent.
The Lloyd's (re)insurer also reported in its results release that it would remain domiciled in the UK following a strategic review.
If the impact of foreign exchange is stripped out, then the deterioration in profitability is even sharper. In H1 2009 profits before forex movements were £52.6mn, while in the same period this year...
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