Rural Insurance post 11% rise in GWP to £42m

illustration of money plant growing from the soil

Rural Insurance's gross written premium (GWP) will have increased by 11.5% to just under £42m when its financial year finishes at the end of March according to managing director Ian Barclay.

He also said the insurer has agreed a £1m refinancing package with Clydesdale Bank to support its investment strategy as it seeks to become a £100m GWP business by 2020.

The director stressed Rural Insurance has continued to buck the trend with double digit growth for the fifth year running in a soft market.