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Ecclesiastical Insurance group have announced extremely positive results for the first 6 months of 2007

Key figures for the specialist insurer were:

• Gross written premiums – £201.8m, up £6.1m on 2006
• Pre-tax profit of £28.7m – increase of £0.9m on 2006
• Overall combined ratio was 101.2% (85.8% in 2006)
• Shareholders funds have reached £361.9m further improving our financial strength
• A substantial improvement in our Group investment return, up to £48.1m compared to £26.0m in 2006

Commenting on the results, Group Chief Executive Michael Tripp said:

“We’ve seen good development of our reputation in the first half of 2007 – in particular we’ve strengthened our presence in the heritage property market and our specialist niches of charity insurance, education insurance, care insurance and church insurance. However we have been determined to maintain underwriting discipline in the face of continued market rate softening and so gross premium growth is limited. We have been affected by the weather events in the UK, with the January storms and June floods in particular giving rise to losses totalling £11.4 million pounds.”

“Ecclesiastical is a specialist insurer, so we don’t compete on price alone. To continue on the positive course we’ve set for the future, we’ve got to underwrite sensibly. We will continue to control costs, maintain our underwriting discipline and focus on delivering excellent customer service to our customers.”

For further information please contact:

Chris Pitt, PR Manager, Ecclesiastical Insurance Group
Tel: 01452 334984
Mobile: 07730 068821
Beaufort House, Brunswick Road, Gloucester, GL1 1JZ.


Notes to editors:

About Ecclesiastical

Ecclesiastical is a specialist insurer of charities, schools, the care sector, churches and historic buildings.

Founded in 1887 to provide insurance for the Anglican Church, it now offers a wide range of commercial insurances, as well as home, travel and wedding insurance, selling through brokers and direct.

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