Fortis sees UK profits up 16%
Fortis Insurance in the UK reports a year of further growth and increased profits. Gross written premiums (GWP) were up overall by 5% at £574m (2003 £546m). Profit before tax showed an increase of 16% at £46.1m (2003 GBP 39.9 million). The combined ratio figure stands at 99.1%.
Barry Smith, chief executive commented: “Our strategy of underwriting a wider range of products and broadening our range of distribution partners is providing the backbone to our success.”Household
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