Elite earnings soar
Elite Insurance, LitComp’s Gibraltar-based after-the-event insurer, finished its first full year of trading “ahead of expectations”, the company said. Unaudited results for the year ended 31 March 2007 showed a very “significant improvement over the previous year”.
LitComp’s anticipated earnings before interest and tax were thought to be at least £1.2m, up from £28,000 in 2006. The company added that it anticipated net profit before tax of at least £800,000. The results show improvement but weakness in its medico-legal reporting subsidiary.
Mondial e-tourism surge
Mondial UP, part of Elvia Travel Insurance, boosted its travel insurance sales by 38% in 2006 due to a focus on e-tourism and solid growth in the travel industry. The company said the rise was helped by winning a considerable number of international contracts covering over 29 countries.
In addition the company, which is a member of Mondial Assistance Group, has over 30 partners. They contributed to the doubling of the company’s e-tourism sales last year. Mondial Assistance claimed its e-commerce platform recorded over 1,200 policy sales an hour.
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.
