Iprism doubles profits as turnover increases in 2012
Iprism Underwriting Agency more than doubled its profit in 2012 to £5.79m from £2.13m in 2011, a report at Companies House has revealed.
Operating profit grew from £2.12m in 2011 to £3.85m last year, while turnover also increased, from £7.79m to £10.37m.
The provider also reduced its net debt to £9.69m, compared with £13.54m in 2011.
The company said in the document that it had taken advantage of its improved trading and financial position by negotiating a medium term loan facility of £8m from the Royal Bank of Scotland.
Iprism's directors’ report stated: “The results for the year show a continuing improvement in level of
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
- Pen inks £150m social housing capacity deal with SiriusPoint