Profit shrinks at Arron Banks’ Somerset Bridge

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Pre-tax profit at Arron Banks’ personal lines broker Somerset Bridge Insurance Services fell to £5.04m in 2019, down from £6.54m the previous year.

Operating profit also dipped, at £4.96m in 2019 compared to 2018’s £6.53m.

Turnover was down slightly, with insurance broking turnover dropping while the claims handling value increased (see box).

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Sobering reading for those with a Biba hangover

Editor’s View: If you are nursing a hangover after going to this year’s British Insurance Brokers’ Association conference then Emma Ann Hughes reckons you missed the point of attending the annual gathering in Manchester.

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