Ecclesiastical Group moves into profit
The business made a loss in 2020 but is back in the black driven by investment returns, improving market conditions and a good current year underwriting performance.
Ecclesiastical has reported increased gross written premium of £486.2m for 2021.
This was up 11% from £437.3m the previous year with the insurer stating it was supported by strong retention and rate increases as well as new business wins.
Total revenue hit £457.7m (2020: £315.1m) while operating expenses were £377.4m, up on the £330.1m spent the previous year.
Overall the group achieved profit before tax of £77m compared to a loss of £15.7m in 2020.
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