Independent marine defence insurance provider UK Defence Club (UKDC) has seen its profits skyrocket on the back of lower claims and increased premiums.
The club recorded a £4.9m ($6.4m) surplus in the year to February 2018, compared with just £780,000 over the same period in the previous year.
Claims slumped from £16.6m in 2017 to £10.2m in 2018. Premiums also increased to £22.9m
