Cobra snaps up 26% rise in profit for 2018
Holding company reports small uptick in revenue.
Alto Insurance Group, the holding company for Cobra’s network, London Markets, underwriting and insurance brokers businesses, has delivered a 7.1% increase in Ebitda to £1.56m for 2018.
The firm reported that positive movement was also seen in operating profit – which increased by 32% to £780,234 – and profit after tax which rose 26% to £433,027.
A filing at Companies House revealed that revenue was basically flat at £14.4m (2017: £14.3m).
However this reversed a fall of 4% in 2017 at which
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
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.
Movo to launch network for directly authorised brokers
Movo will launch Movo Fusion, a network for directly authorised brokers, in the coming months with a pilot starting on 1 June Insurance Age can reveal.
In depth: Staying ahead of cyber risk
Insurance Age has teamed up with Aviva for an In Depth series exploring the latest trends across the rapidly changing cyber threat landscape.
Twelve-month indemnity periods for BI are rarely fit for purpose in hospitality
To mitigate issues of underinsurance and ensure coverage adequacy in the hospitality sector, extended indemnity periods should be introduced. Rebecca Webster, broker development lead at McLarens, suggests a minimum of two or three years to cover the timeframe often required for a full recovery,
Movo weighing up options for investment partner
Movo Investment Group has been holding talks with potential investors as the appointed representatives network, technology and broker owner positions for growth, Insurance Age can reveal.
Biba Conference 2024 countdown: Spring Insure’s James O’Halloran
With the Biba Conference this week, James O’Halloran, development underwriter at Spring Insure, reminisces about meeting Mo Farah and welcomes people to come to the MGA’s stand to get their hands on its Springs.
A-Plan boosts revenue and turnover in run-up to rebrand
A-Plan achieved double-digit growth in turnover and profits in the run-up to rebranding as Howden, a filing at Companies House has revealed.
Brokers upbeat on 2024 growth – Aviva
Brokers are more optimistic about growth in the coming year than they have been since before 2020, according to Aviva, with 83% expecting their business to grow compared to 76% last year.
Most read
- Cost-of-living crisis pushes up premium finance demand
- Video Q&A: Close Brothers Premium Finance MD Shaun Hooper
- Ardonagh strikes A$2.3bn PSC deal