Cox profits up but remains tight-lipped on Highway
Cox Insurance Holdings has reported a successful year and says it has laid firm foundations for futu...
Cox Insurance Holdings has reported a successful year and says it has laid firm foundations for future growth including a complete solution for brokers.
It posted pre-tax profits of £52.1m for 2003 compared to a profit of £42.7m the previous year.
Its motor underwriting business, Equity Red Star, saw gross written premium increase to £556m from £527m, with an operating ratio of 86.3%.
The operating profit before amortisation from broking and insurance services was down to £17.6m from £21.8m, due to
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