Solid first year growth fueled by strong reinsurance segment results

GIBRALTAR, GIBRALTAR, April 8, 2015 /EINPresswire.com/ -- Today, St Bernard Assure Limited has reported it’s 2014 financial results. Operating highlights for the twelve months ended December 31, 2014 were as follows:

• Book value per share increased by 5.05%
• The assumed reinsurance portfolio had a combined ratio of 58% and produced a 24.31% return on capital
• The total return on St Bernard’s investment portfolio was 7.78%
• The Company launched the first 100% online motor insurance company in Switzerland.

William F Fawcett, Chief Executive Officer, commented, “In 2014, St Bernard completed its first full year of operations and delivered a respectable 5.05% growth in book value per diluted share inclusive of dividends. The Company also achieved an important strategic objective by opening a Swiss branch and by launching the first, exclusively online motor insurer in Switzerland. The results for the Swiss motor insurance book were negatively impacted by continuing problems with the software necessary to run the business; consequently, this business is being reevaluated. In contrast, the Company’s assumed reinsurance portfolio which covers global property, aviation and marine catastrophe risks benefitted from a relatively light catastrophe year and significantly outperformed our expectations”.

About St Bernard Assure Limited

St Bernard Assure Limited is a specialty provider of property and casualty insurance and reinsurance solutions. Based in Gibraltar, St Bernard is regulated by the Gibraltar Financial Services Commission (FSC). St Bernard operates a branch in Martigny, Switzerland which is regulated by the Swiss Financial Market Supervisory Authority (FINMA).

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