Biba increased its surplus by 31% in 2002, as its turnover increased to £2.3m from £2.1m.
The retained surplus after tax rose to £73,086 from £55,761 the year before.
Its defined benefit pension scheme was valued at 31 December and showed a gross liability of £312,000 and a net liability, after a deferred tax asset, of £252,000.
Subscriptions brought in £1.8m in 2002, against £1.6m the year before.
Biba also saw a healthy increase in its schemes income, which increased by nearly 45% to £370,000 from £255,000.
A spokeswoman said the increase was due to the quality of the schemes. The portfolio of schemes, covering motor, home, household and travel cover, was recently expanded to include a directors' and officers' scheme.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
