Highway profit slip
Essex-based insurer Highway's profits slipped to £19.6m last year, compared to £27.3m in 2005 at the...
Essex-based insurer Highway's profits slipped to £19.6m last year, compared to £27.3m in 2005 at the expense of a 5% reduction in gross written premium against 2005. GWP fell from £253.7m in 2005 to £241.3m in 2006, with the combined operating ratio falling from 96.4% (2005) to 98.9%. Investment returns were 5.9% compared to 7.3% the previous year. Richard Gamble, executive chairman of Highway, said: "We are well positioned to increase underwriting volumes as the cycle turns."
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