Record Budget profit

The BGL Group (formerly the Budget Group of Companies) announced another set of record profits and substantial growth for its financial year July 2006 to June 2007. The group delivered a pre-tax profit of £43m, up 93% on the previous year, which had also been a record performance.

Oval buys PMI broker

Oval acquired PMI broker United Medical Services based in Bristol and Lancashire.

Advent profit up 50%

Lloyd’s insurer Advent Capital reported profit up 50% to £12.9m in its third quarter results compared to £8.2m in 2006. Gross premiums written were £115.6m (2006: £105.9m).