Jelf Insurance Brokers set for 'aggressive' growth despite dip in revenue and profits

Alex Alway

Premium finance arrangements are the reason behind the shortfall in Jelf Group’s insurance business, says chief executive Alex Alway.

Mr Alway spoke following the release of Jelf’s final results for the year ended 30 September 2010, which revealed that while the overall group's profits grew, revenue for the insurance broking division dipped slightly to £42.9m (2009: £43.7m) and EBITDAE also dropped from £5.2m in 2009 to £4.3m this year.

Putting the drop down to premium finance arrangements the broker had with certain clients, Mr Alway claimed: "Overall insurance trading has been buoyant and new business is actually up 27%."

He

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: