Company results
Investments bring downward pressure on profits at Bridge for 2024
Bridge Insurance Brokers has reported a drop in profits for the year ended 31 March 2024 as turnover fell 3% year-on-year.
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.
Across the board uplifts at Avantia
Avantia Insurance delivered double digit increases in turnover and post-tax profits in 2023, repeating the achievements of previous years.
DR&P deals costs revealed in run-up to BMS sale
DR&P spent more than £12m on five acquisitions in the financial year ahead of selling up to BMS, filings at Companies House have revealed.
Seventeen Group lifts turnover in 2023
Seventeen Group boosted turnover by 21.8% to £45.31m in 2023 on the back of acquisitions and organic growth, as it trimmed losses compared to the year before.
CII institute pushes back into the operating black
The institute arm of the Chartered Insurance Institute Group returned to operating profit in 2023 with a £745,000 surplus after three years of red ink.
Romero posts £3m profit
Romero Insurance Brokers has reported £2.93m of post-tax profit in truncated results as it shifted its financial year end after being bought by AssuredPartners.
Mulsanne premiums drop 40% in 2023 as it receives £22m capital injection
Mulsanne Insurance’s gross premiums fell by £75.3m during the year ended 31 December 2023 to £112.9m, according to its latest Solvency and Financial Condition Report.
One Call posts turnover growth as tax and interest bite in 2023
One Call Insurance Services has revealed turnover and pre-tax profit rises for 2023 as tax and interest charges hit the bottom line.
Markerstudy reveals £63m Clegg Gifford purchase bill
Markerstudy has confirmed it spent £63.63m on snapping up Clegg Gifford Holdings and its subsidiaries last year.
Organic growth boosts TL Dallas to £13m turnover in 2023
Bradford-headquartered TL Dallas Group topped £1m in post-tax profit in 2023 as turnover rose 14.2%.
Profit and turnover at AbbeyAutoline surge in 2023
Northern Ireland broker AbbeyAutoline achieved double digit growth in turnover and profit in 2023.
Lucida keeps turnover stable in 2023 but Ebitdae dips
Motor specialist broker Lucida has posted flat turnover of £47.59m for 2023.
Ecclesiastical grows 11% in half year as UK and Ireland COR tumbles to 84.2%
Ecclesiastical Insurance achieved £18m of underwriting profit on UK and Ireland business in the first half of 2024 as its combined operating ratio improved substantially to 84.2% from 106.6% in the same period of 2023.
Das grew 8% with stable COR in 2023 en route Arag deal
Das has posted growing gross written premium to £139.3m in the run-up to being bought by Arag.
Premium Choice pushes beyond £10m in 2023
Personal lines motor specialist broker Premium Choice took turnover up to £10.53m in 2023 having broken through the £10m barrier the year before.
Markerstudy-bound Hughes posts stable turnover and profit for 2023
Northern Ireland-based broker Hughes, currently in a sales process to Markerstudy Group, maintained post-tax profit at £2m in 2023 with turnover consistent of more than £13m.
Lloyd’s notches up best interim COR since 2007 as profits grow
Lloyd’s has reported its combined operating ratio has improved to 83.7% in its half year results, its best interim COR since 2007.
Axa reveals 106.3% UK COR for 2023
Axa Insurance UK has posted an improved 106.3% combined operating ratio for 2023, trimming it from 109.8% the year before.
Ageas Retail revenue ticks up as profit rebounds
Ageas’ wholly owned broking subsidiary Ageas Retail grew post-tax profit by 20% in 2023 to £6.5m, switching back to growth after declining in 2022.
Ageas delivers 49% growth in UK premiums
Ageas boosted UK gross written premiums by 49% in the first half of 2024 to €992m (£835m) citing customer growth and rate increases primarily in motor with “solid underwriting profitability”.