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The three months delivered significant profitability across all key metrics, including total shareholder return

Net income was up 13.3 per cent from the comparative period last year, as consolidated net premiums written rose 14.1 per cent

The half a billion dollar net income for 2023 compares to a net loss for the 2022 year

The reinsurer recognized a net deferred tax asset of $432 million related to the enactment of Bermuda’s Corporate Income Tax Act 2023

The increase was driven by improved underwriting and investment income

Underlying operating profits between 2022 and 2023 rose 46 per cent

Group profits for the year exceeded a billion dollars

Bank says opportunity is ripe for purchasing more private trust fee-based business

Net income for the fourth quarter was $53.5 million with a return on average common equity of 22.5 per cent

Consolidated net premiums written were up 9.1 per cent to $13.1 billion. The property and casualty combined ratio was 88.4 per cent

Improving market conditions and rising interest rates bolstered the investment portfolio

Demand has increased while some costs have been reduced