Gains from investments have helped stave off high losses from catastrophes earlier in the year.
The firm faced a rough first quarter of 2017, just months away from its acquisition by Fairfax Financial.
The firm is the latest to announce the impacts of the UK's Ogden rate change on its business for the first quarter of 2017.
Changes to the Ogden rate and an uptick in natural catastrophes hit the re/insurer’s underwriting income.
Insurers show signs of investment optimism but their biggest concern is political risk, according to Goldman Sachs Asset Management’s insurance study.
Net income slowed and premiums increased, while the re/insurer responded to reinsurance catastrophe losses and the UK's Ogden rate change.
An underwriting loss at Markel for the year’s first quarter has been blamed on the change in the UK’s Ogden rate.
Clyde Bernstein has been promoted to lead Willis Towers Watson’s mainland UK broking within its corporate risk and broking division.
Bermudian re/insurer Validus showed lower profits in the first quarter, despite a lack of catastrophe losses.