The results of Insurance Age’s annual study into the top 50 brokers and providers in the personal lines market are in.
Market reveals a profit of £1.4bn as well as an improved COR of 92.2% as gross written premiums also increase.
Cuvva COO Andy Tomlinson talks about the company's evolution, the rise of on-demand products and the broker's plans for the future.
The consolidator's accounts show it spent a total of £92.8m on deals during the year, as it also reports increases in turnover and Ebitda.
Consolidator reports loss for the period of £41.3m, while total income for the group hits £433.2m in the first half of the year.
The broker says the business plans to continue to develop its expertise in areas such as property and construction as well as expanding into new markets.
COR improved to 75.2%, while its lockdown rebate cost the provider £21.1m during the six-month period.
GWP in property & casualty went up to £1.5bn for the first half of 2021.
Focus on simplification, digitisation and broker relationships drives growth for the insurer.
The division showed significant improvement in performance compared to the first six months of 2020.
The insurer also delivered a 30% increased profit after tax for the first half of 2021.
Provider points to continued impact from Covid-19 as well as competitive market conditions and the run-off of certain portfolios as it also reports a COR of 91.7%.
Provider says it has seen premium reductions in motor due to Covid restrictions as GWP slips slightly to £481m.
Direct Line Group reported that its commercial division, including NIG, delivered an increased operating profit of £43.6m.
Following its takeover by Intact, RSA's UK, Ireland, Europe and Middle East operations also reports gross written premiums of £2.3bn.
Provider also records rise in GWP and an improved COR of 93.1%.
Simon Matson, CEO, Europe, Middle East and Asia, said the UK division had seen organic growth of 9%.
The consolidator now places circa £900m in gross written premium and employs over 1,500 people in over 50 offices across the UK and Ireland.
Results for H1 show GWP drop as motor specialist prioritises profitability over volume, joins Saga panel and flags creation of temporary insurance product in H2.
The software house recorded a £52.7m turnover for the year, largely in line with its results for 2019.
Provider reports a COR of 94% as GWP rises by 22%.
Masojada is set to step down at the end of the year and will be succeeded by group CFO Aki Hussain.
The broker also revealed a plan to triple its international turnover and to grow its position as a large independent European broker.
The business, which claimed £614,000 furlough cash in 2020, was snapped up by Arch Re earlier this year.