Chief executive says the company has increased its brokerage to £4.25m

Arista was on track to make a profit after nearly tripling its brokerage to £4.25m in 2008, chief executive Charles Earle said this week.

Earle said Arista, which started in January 2007, should make a monthly profit towards the back end of 2009.

The intermediary posted a pre-tax loss of £4.5m for 2008, down from £6.8m in 2007.

Earle said the original business plan was to begin moving into profit by the third year, as it increased retention levels and new staff settled into their roles.

Arista has about 72 staff and capacity provided by Canopius and Equity.

It launched two new offices and an online trading platform for brokers last year.

Earle said he was pleased with the company’s performance against a background of a soft market and economic downturn.

He said: “Our current view is that in the second half of this year, we will roll into a monthly operating profit. That should make the whole year profitable.

“We are operating efficiently and talks with brokers are growing.”