Company results
Simply Business parent Xbridge posts revenue rise but profits slip
Online broker Xbridge, which trades under the name Simply Business, saw a slight fall in profits in 2022 as revenue grew by 13%.
Ceta Insurance posts 24% turnover growth for 2022
Niche personal lines and SME specialist Ceta Insurance grew turnover by 24.3% in the year to 30 September 2022.
A-Plan posts double digit revenue and profit growth for 2022
Personal lines specialist high street broker A-Plan grew turnover by 22% and pre-tax profit by 20% in the year to 30 September 2022.
Turnover ticks up but profits down at SEIB in 2022
SEIB Insurance Brokers grew revenue by 1% to £12.4m in 2022, a year that concluded with it becoming part of Lloyd & Whyte.
Lycetts reports record revenue for 2022
Lycetts grew revenue by nearly 9% in 2022 to £25.6m, as pre-tax profit rose 12% year-on-year to £3m.
Arag tops £60m GWP as profits return to £500,000
Legal expenses insurer Arag broke through the £60m gross written premium barrier in 2022, building on the previous year’s growth when it topped £50m for the first time.
Aviva posts 13% GWP hike in Q1
Aviva grew general insurance premiums in the UK by 13% in the first quarter of 2023 as its combined operating ratio also improved.
Das LEI posts £7.3m loss but swings back to underwriting profit
Das Legal Expenses Insurance Company has reported a comprehensive loss of £7.3m for 2022 driven by its investment performance, as the insurer grew and returned to underwriting profit.
Gallagher reveals retail and specialty organic growth
Gallagher’s UK & Ireland retail division achieved 7% organic growth in the first quarter of 2023, the global broking giant has revealed.
Momentum delivers double-digit profit and revenue growth in 2022
Appointed representatives network Momentum Broker Solutions grew revenue by 17% in 2022 to £11.69m, as profit before tax leapt 43% to £1.11m.
Miller CEO targets growth at ‘greater pace’ as revenues top £200m
Lloyd’s broker Miller has marked its second anniversary as an independent broker with revenues breaking through £200m, it announced today.
Saga reports stable broking results as it pushes on with Acromas sale
Saga is targeting the sale of its underwriting business, Acromas Insurance, in the second half of this year – but arranged a loan in case a deal does not go through.
UK General lost £7.4m ahead of sale
UK General Insurance lost £7.41m in its financial year before being snapped up by RCapital and Montague, Insurance Age can reveal.
Bruce Stevenson reveals growth and plans for Hogg to succeed Bruce as CEO
Howden-owned Bruce Stevenson has reported a 30% increase in turnover to £11.7m with profits up 33% to £3.9m and revealed CEO succession plans.
Esure posts £29.1m loss as tough market conditions bite
Esure chief executive David McMillan explained the swing from a £7.7m post-tax profit in 2021 to a £29.1m loss in 2022 as being caused by significant claims inflation, increased weather-related home claims and a weak pricing environment.
Towergate targets £1.5bn after breaking through £1bn GWP barrier
Towergate achieved more than £1bn of gross written premium in 2022 for the first time ever and has set its sights on £1.5bn in just a few years, chief executive Richard Tuplin has revealed to Insurance Age.
RSA posts £65m profit for 2022
RSA has reported a pre-tax profit of £65m for 2022 swinging back from a loss in 2021.
Lloyd’s confirms £2.6bn underwriting profit and targets £56bn GWP in 2023
Lloyd’s has delivered a £2.6bn underwriting profit for 2022, up from £1.7bn the year before.
Ardonagh reports adjusted Ebidta growth of 22% to £389m
Ardonagh has increased its income by 30% to $1.5bn (£1.23bn), and adjusted Ebitda by 22% to $476m in its financial results for the 12 months ending 31 December 2022.
Ecclesiastical UK & Ireland COR stable as investment losses drive group deficit in 2022
Ecclesiastical Insurance grew gross written premiums in the UK and Ireland by 16% in 2022 to £344.8m, the provider has revealed.
Close Brothers premium finance drops 2%
Close Brothers has revealed a 2% fall in its premium finance book to £990.1m in its latest set of results.
Profits down two-thirds at Sabre in 2022
Sabre Insurance has reported a 66.5% drop in profit after tax to £10.1m for 2022, as the combined operating ratio deteriorated to 96% from 79.4% in 2021.
Commercial grows at Direct Line as group falls to £45m loss
Direct Line grew commercial business across NIG and its own direct brands by 14.7% in 2022 to £749.3m of gross written premium.
Aviva’s Winslow insists ‘we can do more’ to return broker service to pre-2019 levels
With rates continuing to rise, Adam Winslow, CEO of Aviva UK & Ireland general insurance has stressed that it can do more when helping brokers through the challenging market.