DESPITE RAKING in record premiums for the financial year ended December 2022, Junior Market-listed insurance company IronRock only managed less than a half of the profit earned in 2021.

Gross premiums written (GPW) was just over $1.1 billion; $223 million or 25.31 per cent more than the nearly $881 million for 2021. After ceding reinsurance to the tune of nearly $936 million, in addition to other costs, net premiums earned stood at just over $170 million. This was $20 million, or about 10 per cent less than the $190 million for 2021.

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