Lorica Insurance Brokers has reported a loss after tax of £1.18m for the year ended 31 March 2016, an improvement on the £1.58m lost the previous year.
A filing at Companies House showed that turnover at the broker increased by 9% to £13.24m (2015: £12.16m).
The business' operating loss also improved to £1.25m (£2015: £1.88m).
The broker reported achieving a client renewal rate of "over 90%".
In the document the company highlighted that its business model is based upon recruiting
The Insurance Age editorial team dig into this week's top stories.Subscribe to our daily newsletter for all the latest news
- Construction firm unable to find insurance due to lack of capacity
- Mactavish criticises industry for "knee-jerk reaction" in hardening market
- Victor reaches out to brokers following CEO change
- FCA reiterates dual pricing concerns
- Fact file: What’s the story with the Ogden Rate?
- FCA warns of Moneysupermarket clone
- Acquis backers Dunedin to pursue more insurance deals