Benfield today announced it is anticipating lower trading
Benfield today announced that it anticipates this year's trading results to be lower than those in 2004.
The company said it was prepared to “incur short-term impact on profit and margin to improve growth prospects and was confident that carefully targeted expansion would significantly enhance the medium term outlook for the group.”
It continued: “As with any such investment, Benfield does not anticipate significant additional revenue generation until 2006 and 2007.
“Group revenues on a sterling basis are expected to be flat, although higher in constant currency terms.”
Benfield also announced it has appointed Paul Karon, formerly president and chief operating officer, as chief executive of the US division.
Rob Bredahl and Ralph Flum have been appointed president and chief operating officer of the same division respectively.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
