Company profile: Secura

There was a significant deterioration in Belgian reinsurer Secura’s bottom-line performance in 2000 when a €8.5mn pretax profit was transformed into a €4.5mn loss. The downturn was due to adverse claims development on the 1999 natural catastrophe account, increased losses on certain property lines and a growth of 17.5% in liability business and with it the requirement to reserve accordingly.