Giles losses for 2011 come in at £37m

Brendan McManus

Giles group has reported a further loss of £37.4m for the year to 31 August 2011 compared to £37.1m in 2010.

However, the broker highlighted that it had achieved a 16% increase in turnover to £81m (2010: £70m) and a 15% increase in EBITDA to £24m from £21m the previous year.

Broken down by division, Giles saw turnover in retail business increase by 14% to £65m and EBITDA up 13% to £18m.

The wholesale business, which includes Ink Underwriting and the Westinsure network, increased its turnover by 26% to £15m, while EBITDA rose 21% to £8.4m.

Paul Matson, chief finance officer at Giles, said the results

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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