Fortis Insurance reported a 16% rise in gross written premiums for its UK operations in the first quarter of 2004.
The company reported GWP of £144m, up from the £124m reported in the first quarter of 2003.
“We are continuing to broaden our presence across all our product range, with significant increases in the SME commercial market and continued strong underlying performance on household,” said chief executive Barry Smith.
In the SME commercial market, Fortis said it saw a 54% increase in GWP to £12m, up from £8m in 2003. Household GWP also increased by 12% from £22m to £24m.
In private motor, Fortis said it maintained strong growth and profitability with GWP at £100m, 13% up on the £89m reported in the previous year.
In year on year terms, the company's policy count increased by 15%, Fortis said.
Travel demonstrated a good performance through existing key clients and other intermediary sources, said the company, with a 55% rise in GWP to £7m, up from £4m the previous year. It said the rise demonstrated Fortis' commitment to achieving growth targets in this area.
“The first quarter results clearly demonstrate the success of our ongoing strategy to develop and grow all product lines to support the intermediary market,” said Smith.
