Hampden vehicle swings to profit in 2009; sees no sign of naive capacity
Hampden Underwriting swung to a pre-tax profit of £985,000 in 2009 from a loss of £85,000 a year earlier, as it shrugged off start-up costs and began to enjoy positive cash flow from its acquisition of 2006 and 2007 year underwriting capacity.
Hampden is the microcap London-listed vehicle run by the
Lloyd's members agent of the same name. The vehicle exists to
allow small private investors to participate in the Lloyd's
market without having to become Names.
It saw gross...
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