Steamship Mutual achieved its best investment returns for more than 20 years after turning around a loss from the previous year.
The $94.4m gains from investments in 2023/2024 represented a 7.4% return and followed a loss of $26.8m a year earlier, the protection and indemnity club said in its end-of-year results.
It also reported strong underwriting results, with a combined ratio of 92.9%
