Britannia P&I has announced a $29.3m underwriting surplus, helped by a drop in claims.
It also recorded a 7% return on its investment portfolio in the 2019/ 2020 policy year ending in February, including a 16.5% return on its equity investments, which in total delivered a $61.9m investment return.
Britannia returned $25m to members as a dividend, but still increased its capital resources by $31.4m.
