Atrium 2016 profit tumbles by 47%

Atrium Syndicate 609 reported a 2016 calendar-year profit of
£36.2mn ($45mn), little more than half the £68.0mn it
reported for 2015, as its underwriting performance deteriorated
from a year earlier.
The combined ratio for the 2016 calendar year increased by 10.9
percentage points year-on-year to 92.4 percent, driven by a 12.7
percentage point jump in the net loss ratio to 47.1 percent.
The decline in underwriting performance counteracted an
improvement in the 2016 investment return,