Somerset Bridge reports £49m loss after Arch Re takeover
Somerset Bridge Group has posted a £7m drop in turnover for its broking arm in 2021 to £50m.
However, despite the 12% fall, operating profit for the unit remained stable at £3.3m (2020: £3.5m).
The division sold 158,000 renewal policies in the year to 31 December compared to 183,000 in 2020. New business volume was also down at 270,000 from 286,000 the year before.
According to the business, the number of in-force policies at year end represented around 2% of the UK motor market. Trading styles include Go Skippy and Vavista.
The product suite also includes home, bike, travel and life
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