Profits at Budget jumped 10% against an increase in gross written premiums from £256m to £280m, for the year ended 30 June.
The UK's third biggest personal insurance intermediary reported pre-tax profits of £8.1m for the year; a figure it estimates was severely diminished by investment in new businesses.
Group chief executive Peter Winslow said the company could have registered an extra £5m in pre-tax profit if it had not invested in a start-up contact centre in South Africa and in its affinity arm Junction.
He said returns from the investments should begin to accumulate over the next three years.
' Peter Winslow explains his strategy.
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.
