Somerset Bridge Group posts £42.4m loss
The business, which claimed £614,000 furlough cash in 2020, was snapped up by Arch Re earlier this year.
Somerset Bridge Group has reported a £42m loss for the full year 2020.
In figures posted on Companies House the business showed that turnover increased to £103.3m (2019: £75.5). Admin expenses were £84.8m, up from £82.9m the previous year. Taking other factors into account the business made a comprehensive loss of £42.4m (2019: £42.3m).
However, its Ebitda moved into the black hitting £18.4m compared to a loss of £7.5m. The business rebranded from Eldon Insurance in 2019.
Divisions
The
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 print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Generis Underwriting secures new capacity with Sompo
Generis has reached an agreement with Sompo meaning it can expands its appetite and offer increased limits for its professions professional indemnity and the technology sector specialisms.
Biba 2024: Aviva not afraid of ‘tough’ conversations, but ‘categorially’ committed to broker PL, says MD Morris
Aviva has reiterated its commitment to brokered personal lines business, although it is not opposed to a bit of ‘tough’ love to maintain a consistent approach to the market.
Biba 2024: Brokers and insurers have huge role to play in raising awareness of Martyn’s Law
The insurance industry has a huge role to play in raising awareness of the incoming legislation aimed at protecting premises from terrorism attacks, the audience at the British Insurance Brokers’ Association’s 2024 conference has heard.
TBIG invests in Deva
The Broker Investment Group has taken a minority 49% stake in Chester-headquartered Deva Risk Group in its sixth deal of the year.
‘Not right’: Biba CEO Trudgill reveals sad letter of small broker crushed by regulation
In his inaugural conference speech as Biba CEO Graeme Trudgill has vowed to fight the onslaught of regulatory workload being imposed on brokers.
Biba publishes guide to help members demonstrate fair value when offering premium finance
The British Insurance Brokers’ Association has launched a guide for members that arrange premium finance for customers.
Biba launches guide on commissions
The British Insurance Brokers’ Association has launched a guide at its 2024 conference designed to help demystify the commission model.
Are Northern Ireland brokers feeling the personal lines capacity squeeze more than most?
With prices rising faster in personal motor and household than other parts of the UK, brokers in Northern Ireland have good reason to be worried about remaining competitive. Siân Barton gets to the root of the issue and explores what is being done to address it.
Most read
- Video Q&A: Close Brothers Premium Finance MD Shaun Hooper
- Jensten wholesale division split sees MD Simon Taylor exit
- FCA chair admits surprise at “stern reaction” to name-and-shame proposals