Qmetric reveals £41m loss in run-up to sale
Policy Expert owner Qmetric lost £41.06m last financial year ahead of being bought by the Abu Dhabi Investment Authority, which has gone on to invest £35m in the business.
A filing at Companies House for Qmetric Group Holdings showed the deficit in the year to 31 March 2023 ballooned from £9.99m the year before.
As previously revealed by Insurance Age, ADIA bought a majority stake from Primary Group in November having already been a minority investor.
Qmetric received the £35m injection from its new parent in the form of equity investment in shares on 28 November, the document detailed.
ResultsThe business acknowledged high levels of
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