Lorica Insurance Brokers operating losses narrow to £1.95m

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Lorica Insurance Brokers has posted an operating loss of £1.95m for the year to 31 March 2015, an improvement on the £2.87m loss delivered the year before.

The broker highlighted that £647,000 of the loss related to investment in new account executives and that £535,000 was in respect of one-off costs.

It added that on a like for like basis, adjusted for one-off costs and 2015 new investment, the operating loss narrowed to £972,000.

The figures came as the firm reported a 9.5% increase in

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