MMA reports a record £19.7m profit

Intermediary-only insurer MMA Insurance (MMA) announced that it has delivered its best ever profit this year, against a background of portfolio shift and internal reorganisation.

The company was able to report an operating profit of £19.7m, a total pre-tax profit of £27.7m and an increase of 6% in renewable income.

While private motor still accounts for around 40% of the portfolio mix, MMA said it was increasingly focusing on property business, particularly in the small and medium sized enterp