Abbey Legal posts profit as it prepares for changes on legal landscape
Abbey Protection’s MD has predicted a blanket implementation of Jackson’s proposals as the legal insurer posted a 6% increase in pre-tax profits to £5m for Q2 2011.
Revenue in the company's principal trading divisions were up 9% to £16.5m and profit after tax also rose to £3.8m from £3.4m for the same period last year.
The insurer said its profit before tax of £1.2m for Abbey Legal division, which is made up of Abbey Legal Protection and Abbey Legal Services, was in part buoyed by revenues from affinity schemes business that started in the latter half of 2010.
Abbey Protection managing director Chris Ward said: "As we are halfway between a broker and an
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