GWP up 20% to £36m
CFC Underwriting made an operating profit of £3m in 2010, up 26% from £2.38m in 2009.
The specialist lines MGA also reported gross written premiums for 2010 rose 20% to £36m from £30m in 2009.
CFC managing director David Walsh said: “Our last three years of trading have been our most successful ever, against a backdrop of the most challenging market conditions in living memory. Over that period, the compound annual growth rate in premium has been 31%, in operating income 42%, and at the PBT level it is an even more impressive 47%.”
Walsh said the company has made considerable internal investment, including 9 new hires and 5 new product lines.
“In 2011, our objective is to continue with the same approach, having the confidence to do things differently and continually improve and develop the products and services we offer,” Walsh added.
