Cox results fail to hit target
Cox Insurance wrote £58m less business than expected for the year ending June 2002, chief executive ...
Cox Insurance wrote £58m less business than expected for the year ending June 2002, chief executive Neil Utley has revealed.
Having failed to write the predicted level of premium, Cox had to fund the shortfall with money from 2003.
Utley explained: "For the end of year results you have to estimate what additional premiums brokers have committed to you. Last year we actually received £58m less than we'd predicted, so we had to deduct that from the first half of this year."
Utley maintained he was
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