Lloyd’s insurer Hardy sees loss

SPECIALIST insurer and reinsurer Hardy said yesterday that catastrophe losses had hit its first half figures hard, as it posted a loss after tax of £17.1m, compared to profits of £2m last year.

Losses related to the earthquakes in Japan and New Zealand and flooding in Australia meant Hardy’s combined operating ratio rose by 17 per cent to 119 per cent.

The insurance group also announced the appointment of Ian Parker as its new operations chief yesterday. Parker joins from Zurich Financial Services.