NIG reveals profits in 2011 results
NIG has revealed that it made a profit after tax of £47.3m in the year to 31 December 2011, a reversal of the £78.8m the provider lost in 2010.
The insurer also saw its combined operating ratio improve to 103% from 122% the previous year as the overall net loss ratio improved to 60% from 85% in 2010.
However net insurance premium revenue decreased to £413.1m (2010: £648.9m)
NIG ceased underwriting as a separate entity on 10 December 2011. Along with the figures released to Companies House in its Directors' Report and Financial Statements, the company noted it had transferred its underlying businesses into UK Insurance Limited and has
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