Cox Insurance Holdings has said its trading outlook is positive as it reported its first half results.
The company has recorded a swing into profit, achieving an operating profit of £13.6m compared with a loss of £1.3m last year.
Operations profit reached £34.9m, up from a profit of £22.6m last year.
Cox said its retail insurance businesses recorded a 43% rise in profits in the first half of the year to £25.3m.
Chairman Peter Owen said: "The first half of 2002 has been productive. Underwriting expertise, distribution capability and good financial discipline will continue to drive future profitability.
"The retail market continues to provide a favourable trading environment for us. The positive rating environment has contributed to strong growth in premiums and underwriting profitability in the six months.
"Positive market conditions are likely to prevail throughout 2002 and into 2003."
