MMA profits from motor turnaround
MMA Insurance has issued its 2011 annual results, the final numbers that will be issued before the business is merged with Provident Insurance to form Covéa Insurance in the final quarter of 2012.
Pre-tax operating profit rose to £12.1m from £0.3m in 2011 and the combined operating ratio fell to 99.6% (2010 - 105.9%).
MMA said that GWP was selectively increased to £230m (2010 - £220m)
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