Giles Insurance Brokers reveals £2.25m loss
Giles Insurance Brokers lost £2.25m in 2012, reversing a profit of £998,000 the year before.
The results, posted in a filing at Companies House, show that in the year to 31 August 2012, the firm spent £186,000 on aborted acquisitions.
The document also showed the loss was driven by exceptional costs including £2.8m for the integration of acquisitions, £718,000 for the restructuring of equity and debt financing of the group (Expectrum and subsidiary companies) and £563,000 for projects relating to the restructuring of the business and the implementation and development of new processes.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Top 100 UK broker TL Dallas appoints new group MD
Tim Mortimer has been promoted to group managing director at TL Dallas as the broker’s fourth-generation family member Polly Staveley moves into an executive chair position.
Top 100 UK broker sees emails drop by 22% following WhatsApp integration
Insurance Revolution, part of Well Dunn Group, has seen service emails drop by 22% after it partnered with CM.com to integrate WhatsApp into its customer communication processes in a “game-changing” move.
Brokerbility unveils first new member of 2026
Brokerbility has announced Goodmans Insurance Brokers as its first new member of 2026.
QuestGates: 2025 vehicle theft reduction should be welcomed by brokers
‘All vehicle’ thefts fell by 11.36%, from 102,240 in 2024 to 90,625 in 2025, according to analysis of the Driver and Vehicle Licensing Agency data for 2025 by loss adjusting firm QuestGates.
Brokers have mixed reaction on Zurich/Beazley deal
Insurance brokers have given a mixed response to the potential Zurich/Beazley deal highlighting the acquisition would create a “strong proposition” and could create opportunities but noted another competitor leaving the market as a medium-term worry.
SRG hires ex-Marsh head to lead Australian market entry
Specialist Risk Group has announced its latest geographical diversification with the launch of an Australian business.
Grove & Dean doubles down on digital after turnover and profits slip
Motor experts Grove & Dean saw turnover shrink by 9.3% and post-tax profit fall 39.7% in the year ended 31 May 2025, but is seeing signs of improvement and momentum in the current year according to managing director Damian Collett.
Lucida and Right Choice founder Mike Joseph to retire
Lucida Group founder and chief underwriting officer Mike Joseph will retire at the end of March, the business has confirmed.