Ockham Holdings has reported a full year pretax profit of £10.5m, compared to a previous loss of £8.8m.
Operating profit was £12.6m against a previous loss of £10.2m, with earnings per share of 5.4 pence, compared to a loss per share of 1.7 pence the year before.
The company said the turnaround represented a substantial achievement by its motor insurance business, Highway.
Ockham commented that trading conditions remain good, with motor premium rates still on the increase.
The company also announced it is still in the process of recruiting a new chief executive but expects this, and the possible reinforcing of the non-executive component of its board, to be concluded by the end of June.
