Somerset Bridge swings to Ebitda profit as turnover doubles in 2023
Arch Reinsurance-owned Somerset Bridge Group trimmed post-tax losses in 2023 to £13m from £32m the year before, as it moved into positive Ebitda territory.
The group includes personal lines motor broking arm Somerset Bridge Insurance Services, which trades through GoSkippy and Vavista.
Brokered policies in force at the end of the year jumped from 310,000 to 478,000 as new business rocketed and renewals remained stable.
It meant the division’s turnover leapt by £46.9m to £85.4m.
The offering generated operating profits of £34.4m, far ahead of the £2.7m in 2022.
In a filing at Companies House, for the year ended 31 December, Somerset Bridge Group
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