Arch Reinsurance-owned Somerset Bridge Group trimmed post-tax losses in 2023 to £13m from £32m the 12 months earlier than, because it moved into optimistic Ebitda territory.
The group consists of private strains motor broking arm Somerset Bridge Insurance coverage Companies, which trades via GoSkippy and Vavista.
Brokered insurance policies in drive on the finish of the 12 months jumped from 310,000 to 478,000 as new enterprise rocketed and renewals remained secure.
It meant the division’s turnover leapt by £46.9m to £85.4m.
The providing generated working earnings of £34.4m, far forward of the £2.7m in 2022.
In a submitting at Corporations Home, for the 12 months ended 31 December, Somerset Bridge Group
Solely customers who’ve a paid subscription or are a part of a company subscription are in a position to print or copy content material.
To entry these choices, together with all different subscription advantages, please contact info@insuranceage.co.uk.
