Klapton Insurance Company Limited concluded the regulatory audit of its 2016 financial statements by the OFA (Anjouan Offshore Finance Authority) after the final approval by Klapton’s board of directors.
Rob Bygrave, the CFO of Klapton, commented that the 2016 results for Klapton show another profitable underwriting result for the year.
Klapton continues to maintain a strong capital base, with accumulated equity capital and reserves well in excess of €30m, significantly greater that the regulatory capital requirement. Although there was a fall in GWP, this was as a direct result of the strategic decision to cease operating in certain business lines.
The Board are confident that the new strategy will ensure a prosperous future for the Company, which is bearing out in the flow of quality business being completed in 2017.