The figures were released in a trading update by the TT Club that contains relatively little financial information.

The half-year result is in line with a $12m surplus through 2013.

A combined ratio of 92% points to underwriting profitability over the months to the end of August, while the investment side produced a return of 1%.

Chief executive Charles Fenton says claims this year have continued at a low level and contributed to a strong financial performance.

“The