Complete Cover lost £1.7m in run-up to run-off
Complete Cover Group lost £1.68m in 2023 with turnover tumbling to £2.7m ahead of the car and van specialist broker going into run-off.
Insurance Age revealed in December 2023 that Complete Cover’s book was being transferred to Sunbury-on-Thames–based broker UDrive.
A filing at Companies House detailed losses were up by 85% from the £906,000 deficit in 2022, while turnover fell by a third year-on-year from £4.16m.
Headcount dropped from a previously reported 91 people to 48 staff in 2023.
It had been as high as 340 employees in 2020 when turnover stood at over £14m.
Challenging yearIn the document, the directors reported: “2023 was
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