Fortis reports return to profit in Q2 but trails behind last year's H1 result
The insurer reported profit before tax of £8.4m for Q2 2010, an improvement on the £3.2m loss made in Q1, but behind last year's H1 profit of £26m.
Non-life gross written premiums (GWP) increased by 16.6% to £468.4m (H1 2009: 401.6m) while non-life combined ratio stood at 106.5% (H1 2009: 104.4%).
Mr Smith said: “I am pleased that Fortis has delivered a robust set of results despite the continuing difficult economic environment. Our income growth is strong, thanks to our multi-distribution strategy and we have demonstrated our aim to grow further with the acquisition of Kwik Fit Insurance Services and continuing new business wins.
“Followin
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