Elite exceeds profit growth prediction
Insurer hails growth in a “challenging year” as results for 2015 are published.
Insurer Elite has posted increased profit before tax of £11.43m for the year ending 31 March 2016, exceeding the prediction of £7m which it made in 2014.
This compares to profit before tax of £4.62m for the previous year. GWP also grew from £160.4m to £166.87m.
The company also saw an increase in underwriting profit which hit £17.41m (2014: £6.72m).
Pressures
CEO, Jason Smart, commented: "It has been a challenging year for all concerned. Our team have had to contend with major regulatory change
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