Insurer Chaucer back in the black

LLOYDS of London insurer Chaucer moved back into the black last year and has tipped the current year as a positive one for growth.

The company announced a pre-tax profit of £42m for 2009 – a turnaround after a loss of £26.2m in 2008.

Chairman Martin Gilbert said: “We are optimistic for 2010 believing that the strength in depth of our underwriting team and the broad diversity of our portfolio will enable us to take advantage of the current market conditions.”

Chaucer’s headquarters is in London while it has international operations in Copenhagen, Houston and Singapore.