Giles loses £37m
The figure represents a deterioration from 2009 when the broker lost £22.7m.
The group annual report for the period also showed an operating loss of £6.5m as opposed to a profit of £8.4m the previous year. Its turnover similarly fell from £72.14m in 2009 to £69.98m in 2010.
The directors' report noted that the operating loss included the cost of integrating acquisitions within the group which amounted to £2.9m. During the period Giles bought JHIB Holdings, Westinsure Group, and the UK wholesale
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Broker
Most read
- Action group vows to pursue broker Pound Gates after BI policies fail to pay out
- Gallagher acquires Erimus Group
- Football clubs step up BI court case against insurers
- Rishi Sunak flags speedy reform for Solvency II rules
- PIB buys beauty specialist Balens
- Erimus lifts lid on Gallagher deal
- Drop in insurance complaints at FOS