Randall & Quilter report near £0.5m loss
Randall & Quilter has reported a loss of £488,000 for the year ended 2011, compared with a profit of £6.4m for 2010.
The underwriting management division also saw made a loss of £1.1m for the year, a further decline from the loss of £1m in 2010.
The company’s insurance services division saw operating profit for 2011 fall slightly to £5.6m, down from £5.8m the year before.
Adjusted profit before tax, excluding a goodwill imparement of £13.5m, rose from £7.5m in 2010 to £8.8m last year. Total group income climbed by 12% to £36.8m (2010: £32.8m).
Gross written premium (GWP) rose by 71% from £948,000 in 2010 to £2
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