15% Growth in Full Year Gross Written Premium with Underlying Profit Improvement
11.4% Year on Year Growth in Book Value Per Share Inclusive of Dividends
Fourth Quarter 2020 Highlights
- Net income of
$64 million equal to$1.59 per share - Net operating loss of
$(44) million ,$(1.12) per common share - Gross written premium growth of 13%
- Attritional combined ratio of 86.3%, a 4 point improvement year over year
- Pre-tax net catastrophe losses of
$70 million , Covid-19 Pandemic (“Pandemic”) losses of$76 million , and a prior year reserve strengthening of$400 million
Full Year 2020 Highlights
- Net income of
$514 million ,$12.78 per diluted common share - Net operating income of
$300 million ,$7.46 per diluted common share - Growth in diluted book value per share of 11.4% inclusive of dividends
- Gross written premium growth of 15%
- Attritional combined ratio of 87.5%, ~ 1 point improvement year over year
- 2020 cash flow from operations of
$2.9 billion
