Alea has reported that loss after tax for the first six months of 2006 was $10.7m compared to a profit of $19.5m in the corresponding period of 2005.
Alea said net insurance premium revenue for the period was $209.7m (H1 2005: $610.7m), with the reduction reflecting the impact of the group's decision to cease writing new/renewal business and place its operations into run-off.
The company said that "2006 performance remains within the financial covenants under the group's bank credit agreement."
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