Belgo-Dutch insurer Fortis has posted increases in commerical and personal premium income during the first three months of the year.
Belgo-Dutch insurer Fortis has posted increases in commercial and personal premium income during the first three months of the year.
Commercial premiums increased by 49% to £9.4m in the first quarter, up from £6.3m in 2002. Meanwhile, household premiums increased by 11% to £21.6m.
Its motor premiums were down by 9% to £88.8m during the first quarter - reflecting its decision to shift emphasis on to core areas such as commercial.
Chief executive Barry Smith said: "While overall volume remains the same as last year at £124m, this reflects our determination to maintain our strict policy of writing business for profit only.
"This particularly applies to our motor market. We have achieved very satisfying growth in household and commercial premiums.
"Most importantly, by continuing to focus on our operating ratios across all markets (2002 - 91.1%) we have successfully delivered the required return on capital to our shareholder and continued to meet the needs of our brokers and intermediaries through competitive pricing and consistent service."
