INTERIM REPORT 2010–How we've performed
| GROSS WRITTEN PREMIUM (GWP) Reduced 1.5% compared with the previous first half, due to the sale of underperforming businesses and foreign exchange effects. Excluding these factors, underlying gross written premium increased 5.1%. |
INSURANCE MARGIN Up from 6.2% in the first half last year, driven by a strong operational performance, lower natural peril claims and a favourable credit spread movement. |
NET PROFIT AFTER TAX Significant upswing from $4 million in the previous first half. This reflects improved underlying performance, recovering investment markets and the absence of the loss incurred in the first half last year when we sold underperforming businesses in the UK. |
DIVIDEND More than doubled from the last interim dividend, reflecting higher cash earnings, and is again fully franked. To be paid on 12 April 2010 to shareholders registered as at 10 March 2010. |