Towergate losses peak at almost £16m in Q1
Towergate Holdings has reported a loss on ordinary activities after tax of £15.8m for the first quarter of 2012.
This is compared with a loss of £14.4m for the equivalent period of 2011.
Towergate Insurance reported group operating earnings of £34.3m for the first three months of 2012, a 9% improvement on the £31.4m reported for the same period of 2011.
Group income increased by 2%, from £103.3m for the first quarter of 2011 to £105.5m for Q1 2012.
The company’s underwriting division showed a 12% increase in income over the quarter, from £17.5m to £19.6m, and a 31% increase in operating earnings from £6.1m
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
- Markerstudy gets CMA greenlight to complete £1.2bn Atlanta deal
- FCA warns insurers, again, on undervaluing total loss motor claims
- Ajay Mistry launches insurance broker