Lloyd's broker Miller increased its insurance income per staff member by nearly a third in three years.
The company grew its insurance headcount by 4% - or by 22 people to total 542 - in the last y ...
Lloyd's broker Miller increased its insurance income per staff member by nearly a third in three years.
The company grew its insurance headcount by 4% - or by 22 people to total 542 - in the last year, while insurance income per head increased by 8%.
The cumulative insurance income per insurance staff member was just under £110,000 in the 12 months to 30 April, compared to £101,000 the year before. It was £97,000 in 2001.
Insurance turnover increased by 13% to £59m in the year to 30 April, against £52m the year before.
Total turnover figures increased by just 2% to £67m from £66m reflecting the disposal the year of Miller's travel subsidiary, International Airline Services Ltd.
Shareholders' funds increased by £655,000 in the period compared to £409,000 the year before.
Miller distributes its profits to employees, so its reported pre-tax profit figures do not reflect total profitability.
Staff costs, which include bonuses paid to distribute profits, increased by an average of 15.5% in the year.
Chief financial officer Dick Roberson said the increasing efficiency was a result of both investment in IT and aiming to maximise profit margins.
