Ansvar Australia’s gross written premium (GWP) was buoyed by new business in the first half while an underwriting loss was little changed from a year earlier despite the impact of the Townsville floods.

GWP rose 15% to £33.7 million ($61.3 million), or 18% excluding currency impacts, while the underwriting loss was £354,000 ($643,662) compared with £337,000 ($612,752) previously.

The combined operating ratio deteriorated slightly to 103.3% from 103%.

“We expect to see growth continue into the second half of the year, although the market is becoming more competitive,” UK-based parent company Ecclesiastical said.

The gross underwriting loss was “significantly impacted” by the Townsville floods, but the specialist church and heritage insurer says there was a minimal impact on the net results after reinsurance.

Ecclesiastical Group total GWP rose 7% to £185 million ($336.4 million) and profit before tax was £42.8 million ($78 million) compared to £19.2 million ($34.9 million) a year earlier following a jump in investment returns.

The combined operating ratio improved to 91.4% from 92.3%.

“We remain confident about future profitability and have delivered a fifth consecutive year of strong underwriting profits at the half-year,” CEO Mark Hews said.

The company says investment in new technology is progressing well and the Australian business has started development of a new policy administration system.

In the UK, innovative work is exploring how connected technology can prevent common losses. Projects include a trial of a smart water leak detector and equipping a heritage property with a wide range of sensors.