World Insurance Report
SVB turns profit
SVB Holdings turned in a profit of £23.8mn (US$37.8mn) for 1999 compared with a loss of £2.3mn for 1998.
SVB Holdings, which owns five syndicates through its subsidiary SVB Syndicates, said the result included a £13.3mn write off of negative
goodwill and suggested a profit of £10.5mn was more appropriate for comparisons.