2015 financial statements published

Home / Announcements / 2015 financial statements published

Klapton Insurance Company Limited concluded the regulatory audit of its 2015 financial statements by the OFA (Anjouan Offshore Finance Authority) and published its statements, after the final approval by Klapton’s board of directors.

The Board is pleased to announce the 2015 results for Klapton which show another profitable underwriting result, together with a bottom line net profit, in spite of challenging market conditions.

The results show that Klapton maintains a strong capital base, with accumulated equity capital and reserves of over €40m and total assets were maintained at €66m.

Although GWP fell by 27%, this was due to a combination of disciplined underwriting and a reduction in high risk portfolio.