Turnover falls slightly in 'tough environment'

Bluefin Insurance Group has posted an after tax loss of £5.3m in the full year of 2009, rising from a £4.6m loss in 2008, Insurance Times has learnt.

Bluefin Group, Bluefin Insurance Group’s parent company owned by AXA, saw its after tax loss increase to £56.8m from £40.1m because of a £64m impairment charge at Bluefin Advisory Services. This compares with a £40m impairment charge in 2008.

Turnover from continuing operations at Bluefin Insurance Group fell to £133.6m in 2009 from £138.9m, which the firm attributed to the “increasingly tough trading environment”.

Read the full story in this week's issue of Insurance Times, available in print and online.

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