Company Profile: ERC Frankona Re

Danish reinsurer ERC Frankona Re described 1999 as its best year ever, despite a 13% fall in the company’s gross premium income. Improved underwriting and investment results together with a fall in administration expenses helped the company to achieve a pre-tax profit of DKr592mn in 1999, up from DKr456mn in 1998 and the company’s best result for five years.