CFS turns general insurance loss into profit
Co-operative Financial Services (CFS) general insurance profits have increased to £14.6m, compared to a £1.5m loss in 2008.
Co-operative Financial Services (CFS) general insurance profits have increased to £14.6m for the 28 weeks to 25 July 2009, compared to a £1.5m loss last year.
General insurance gross written premium (GWP) has improved by £7.5m to £228.4m which CFS said was predominantly driven by increasing sales volumes through its online, telephone, broker and aggregator channels.
CFS said retention rates have “remained broadly stable” while its new business income has increased by 27%.
The general insurance
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