The big jump in profits reflected a strong performance on the investments that the market holds to cover insurance pay-outs.
by the reluctance of some syndicates to embrace technology more widely and move away from traditional paperwork. "So on a like-for-like basis, volumes are down 6.5%...that's been our requirement - let's just make sure that we're getting an appropriate return for the capital that we're putting at risk.
"Claims are already being paid out. We've been in touch with government to make sure our first response units are on the ground doing the job you want them to do - and that's really part of our belief in the future, you know, how can we improve the life-cycle of the payment of a claim and get people set up to continue their lives or to run their businesses as they possibly can after a disaster.