Britain’s Ecclesiastical Insurance Office, the parent of Ansvar Insurance, has reported a first-half profit despite claims from Australian floods and the earthquakes in New Zealand and Japan.

Ecclesiastical reported a net profit of £12.6 million ($19.4 million) compared with a £10 million loss ($15.4 million) in the first six months of 2010.

Gross written premium rose 1.3% to £250 million ($385.6 million) and the combined ratio was 104.9%.

Group CEO Michael Tripp says the result is despite extremely difficult market conditions and an unusually high gross claims cost.

“The Australian floods, New Zealand and Japan earthquakes and several other global disasters have contributed to a £419 million ($646.2 million) general business gross claims cost for the first half-year,” he said. “This is higher than our total gross claims cost for the whole of 2010.”

The New Zealand earthquakes in February and June contributed to a gross loss of £200.5 million ($309.2 million), which became a net loss of £2.3 million ($3.5 million). Earthquakes and floods sent Ecclesiastical’s general underwriting business into a loss for the period.

Premium income from Australia and New Zealand rose 10% to £45.4 million ($70 million) and the underwriting loss was $8.6 million ($13.3 million). The combined operating ratio for the region was 137%.