Fortis UK sees profits increase
Broker-only insurer Fortis UK saw its profits before tax increase by 22% to £66.4m for the year endi...
Broker-only insurer Fortis UK saw its profits before tax increase by 22% to £66.4m for the year ending 31 December 2005. The company reported profit before tax was up 18% to £58.1m (£49.2m), with its gross written premiums up overall by 4% to £596.6m (2004: £574m). The balance in profit was made up from its broking arms RIAS and Outright. Commercial GWP increased by 8.7% to £56m, and Fortis' combined operating ratio for motor improved to 98.4% (2004: 98.8%), as its GWP decreased by 1%, at £372
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