PremFina reveals 2024 losses
PremFina trimmed operating losses in 2024 from £6.4m to £4.2m with the business having previously forecast reaching profitability by the end of June next year.
Turnover at the insurance premium finance provider jumped 58% year on year to £29.38m.
The company, which works with Markerstudy Distribution and Ardonagh Advisory, reported in a filing at Companies House that new business wins and “strong underlying book growth and broker retention [meant] volumes grew by over 2.5x in 2024”.
The business made a £26.3m loss after tax after having posted a £19.2m deficit in 2023.
Headcount at PremFina rose by 27 people during the year to close at 126 staff.
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