Canopius reports increased profits and boardroom reshuffle
Canopius Group has announced record results for the year ended 31st December 2006 with profits rising to almost £20m. In addition, the board will soon witness a reshuffle, with Michael Watson relinquishing his role as head of the group's managing agency to focus on the job of chairman and chief executive of the company.
Results highlights:
Gross written premium up 26% to £273m. Profit after tax £19.8 million (2005: £1.0m). Pre-tax return on equity: 46%. Shareholder’s Funds increased from £54m to £90m. Total financialOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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