Britannia and its associated reinsurance company, Boudicca, rang up a $74m surplus for the year to 20 February lifting the free reserve to $546m.
The result reflects a downturn in claims although the investment result was relatively modest.
The surplus for the year is more than double the $34m profit of the previous year when the ‘A’ rated Britannia Club was hit by a large run of claims each costing more than $1m.
The
