Trust Re profit ticks up in Q1

First quarter pre-tax profit at Bahrain-based Trust Re increased
7.7 percent on the prior-year period to $8.4mn, as an improved
investment result offset weaker underwriting performance.
Net underwriting profit fell 27.7 percent to $3.4mn, while net
earned premium for the quarter decreased by 20.7 percent to
$57.5mn. Gross written premium in the quarter fell 14.9 percent to
$174.0mn.
Net claims also fell 23 percent to $37.5mn, while operating
expenses stayed flat at $5.4mn.
At a group level, the