ATRIUM H1 PROFITS JUMP TO £7.6M

Lloyd’s insurer Atrium Underwriting has reported first-half profits of £7.6m, up from £2m in the same period last year. Group managing director Steve Cook said that the improved result reflected the combined impact of rate increases, organic growth and Atrium’s recent change to annual accounting. The combined ratio of its managed syndicates 590 and 609 also improved eight points to 91%. Assuming no major catastrophes, the group has said that it expects to pay a final dividend of 7.5p a share for the full year — its first dividend payment since 2000, when shareholders received 5p a share.