Domestic & General's operating profits dropped 23.2% to £7.3m in the six months up to 31 December 2002, with a decrease on a like-for-like basis of 21.1%.
This was despite turnover increasing 39.1% to £107.4m.
Meanwhile, the value of Domestic & General's equity portfolio decreased by £2m, resulting in a 40% drop in total profits to £4.8m.
Despite the losses, Domestic & General hiked its interim dividend by 10.1% to 6.78p per ordinary share.
Turnover in the group's warranty division climbed 42.6% to £96.1m.
The warranty division's earned income increased by 33.8% to £72.9m, but the rise was offset by the increase in new business, which led to both higher claims ratios and higher expenses.
As a result, the overall contribution from the group's warranty division dropped to £3.6m.
The group's support services reported a 5.5% increase in turnover.
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.
