Investment gains drive Allied World profits
Allied World Assurance Company Holdings (AWAC)'s net income for the first six months of the year grew to $317.7mn, up from $245.1mn in H1 2009.
The result was driven by a strong investment portfolio that booked realised gains of $172.4mn, against $41.7mn in the first half of 2009.
But operating income dropped after the first half losses, including $65mn from the earthquake in Chile and $51.5mn from other events, took their toll. The company reported first half operating income of...
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