Faraday profits halve in 2015

Faraday's Lloyd's Syndicate 435 saw its profits fall by
nearly half in 2015 but continued to comfortably outperform the
broader market.
The Gen Re-owned syndicate reported net profits of £54.5mn
($76.7m) for the year, down from £101.6mn in 2014.
The drop-off in profits was largely driven by the carrier's
underwriting performance, with the combined ratio up 25.2
percentage points to 70.5 percent.
Faraday said that this figure allowed it to deliver
better-than-targeted returns for 2015