Windsor reported a “strong first six months” supported by the improved performance of Windsor Insurance Brokers, as it released results for the six months ending 31 March 2004.
It said the boost in the performance of its broker division was the result of a significant restructuring of the business.
Pretax profits were up 17% on the 2003 results, from £1.17m to £1.37m. Brokerage and fees increase by 13% from £7.50m to £8.45m. Revenue rose to £8.45m, up from £7.50m a year earlier.
Chairman David Low said: “Trading conditions continue to be favourable, with the London insurance market, in which Windsor places the majority of its business, continuing to recover from the catastrophic losses incurred during the last decade.
“More stable market conditions have emerged and underwriting capacity has seen welcome increases. This has enabled Windsor to provide more competitive premiums for both existing and new clients.”
