Abbey Protection profits 'on track'

Abbey Protection, a supplier of legal and professional fees insurance and services products, today said its results for the year ended 31 December 2009 will show an increase in profits in line with market expectations.

Group chief executive Colin Davison said: "This was particularly pleasing against the backdrop of an economy in recession, as it showed the resilience of the underlying business models.

"It also demonstrated the importance of applying strong risk management controls, particularly in mitigating its exposure to employment claims from its SME clients as unemployment levels have continued to rise."

Abbey Protection is set to announce its full results in March.