TT Club announces £13m profit for 2005

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TT Club, the transport and logistics insurance provider has announced a total £13.3 million in profits for its 2005 financial year.

TT Club chief executive officer, Paul Neagle confirmed that the structure of the Club’s reinsurance programme has been maintained for 2006, but warned that the cost of this protection has risen considerably in response to the last Atlantic hurricane season, which saw a record total of twenty-seven named Atlantic storms including the first ever recording south of the equator.

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