Ecclesiastical Insurance sees investment returns rise by £32.8m driven by equities

Written by Adam Cadle

23/08/2017

Ecclesiastical Insurance delivered investment returns of £40.1m in H1 2017 up from £7.3m in H1 2016 due to "the steady rise in global markets".

"With the prospect of continued uncertainty from the UK leaving the EU and from global, political events, our strong capital position means we are well placed to weather potential volatility," the firm said.

The group's equity portfolio made the largest contribution to the overall returns as stock markets continued to grow during the year.

Overseas equities also performed well with underlying asset values outperforming benchmarks. Overall, the equity portfolio generated returns of £30.8m, compared to £0.9m in the six months to 30 June 2016 which reflected the market shock following the Brexit vote.

Returns on the bond portfolio were more in line with expectations at £6.1m, reflecting the minimal movement in interest rates.

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