Calliden Group’s first-half results are back in black after the insurer reported net profit of $3.6 million, reversing a loss of $600,000 in the corresponding period last year.

Gross written premium surged 245% to $96.1 million as the group integrated its recent acquisitions.

These include the remaining 50% stake in regional underwriting agency ARGIS and equal ownership of Queensland Underwriting Solutions with Queensland Broker Holdings, both announced in June.

Group total assets moved to $402 million for the half against $160 million last year.

CEO Nick Kirk told insuranceNEWS.com.au the result has been achieved against a backdrop of modest price increases and relatively benign first-half weather.

“Increased scale and diversity is making that profit possible,” he said. “The loss ratio has been very, very good and the business has performed very well in the first six months.”

Mr Kirk says the company will continue to simplify the business and build financial strength.

Calliden is dropping poorly performing portfolios at the same time as it continues its acquisition program. The insurer has also consolidated premises and integrated new and inherited IT systems.

Its strengthened reinsurance arrangements include increased cover for catastrophes.