But strong performances at its management services and insurance support services units helped to make up the difference.
In a statement, Charles Taylor, which provides professional services to clients in the insurance market, said its pretax profit for the six months ended
"While there is an impact we're quite pleased the impact is not enormous. It's quite muted. We think that's a reflection of the organisation's resilience," he said.
With the interim dividend kept flat at
"[The dividend policy is] certainly something which will be under consideration at the end of the year," Marock told
According to Munich Re NatCatSERVICE statistics cited by Charles Taylor, insured losses in dollars from natural catastrophes in the first half are 32% down on the 10 year average.
"The volumes of loss adjusting work would be expected to increase considerably once there is a return to a more normal claims environment," Marock said in the company's statement.
Management services, under which Charles Taylor manages mutuals such as
Insurance support services reported a
"We've just been running the business tighter as well, particularly in insurance support services, which has helped margins," Marock told
Charles Taylor's overall core professional services business' operating profit fell to
"Our professional services businesses have delivered a result in line with the prior year. This was a result of the strong performance of management services and insurance support services and despite the impact of the benign claims environment on our adjusting services business and the strength of sterling. The insurers in run-off business performed satisfactorily," Marock said in the company's statement.
Marock said current trading within Charles Taylor's core business is steady, adding that the company continues to invest in people, offices and systems to support growth.
Looking ahead, Marock said: "The insurance support services business has had a strong start to year and continues to trade well. Our insurers in run-off business is performing satisfactorily."
"We'll continue to look at neat bolt on acquisitions if we can find them but our focus remains on growing the core business organically," Marock said.
Charles Taylor shares were Friday quoted up 2.3% at 225.00p.
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