Capita, the support company that provides back office services for insurers, reported a 45% growth in profits for 2001 compared to the preevious year.
The group posted an operating profit of £77.1m, compared to £53.1m in 2000.
Revenue from its insurance operations have grown from a standing start in March 1999 to an annualised rate of £160m.
Capita employs 3,000 staff in insurance outsourcing and handles 1.5 million claims a year, worth about £1.5bn, for clients including Norwich Union and Abbey National.
The group also provides legal and medical services to 20 million policyholders and last year bought loss adjuster McLarens Toplis for £33.2m.
Chairman Rodney Aldridge said Capita had cut McLarens Toplis' cost base and he expected "strong profit growth in 2002".
He said: "Capita McLarens now forms a core part of Capita's insurance outsourcing services and has been directly involved in the creation of a strong pipeline of major new contract opportunities.
"Several key clients have not only renewed their relationships with Capita, but have also significantly extended them."
He said insurers spent £4bn a year on back office services.
Insurance accounts for the lion's share of Capita's fast-growing involvement in the financial services sector.
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.
