Britannia P&I has reported a $37m post-tax profit for the 2020 policy year despite running at an underwriting loss.
The London-headquartered protection and indemnity insurer said it made a $20.5m loss on its pure underwriting activities in the 2020 policy year, compared to a $29.3m profit in the previous 12 months.
The deficit is partly attributable to an increase in shared International Group of P&I Clubs’ pool claims, which totalled $478.1m
