Burke predicts interim profits at Thistle in 2012
Chief executive of JLT, Dominic Burke, has predicted that Thistle Insurance will beat its 2010 full year trading profit of £4.8m this year.
The prediction came as he explained the loss of £246,000 in the first six months of 2011 was due to the division's reporting structure.
"The model that we have for Thistle is that the predominant [amount] of our earnings comes from the underwriting profits of the managing general underwriter and we recognise those profits at the end of the year but not at the half year," he said.
Mr Burke accepted it will always be the case that the results would be uneven but added that he expected the division
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 info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk 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 info@insuranceage.co.uk
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 info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Dual to open two UK offices as McGinn’s regional push gathers pace