Ockham Holdings, the motor insurer that trades as Highway, reported profits soaring to £7.2m after tax for 2001, up from a £2.1m loss in 2000.
The group put the turnaround in performance down to rising motor rates.
Average premiums achieved in 2001 were 15% higher than in 2000.
Ockham did not lose any money due to the World Trade Centre attacks following a decision to concentrate on motor insurance.
Highway's combined ratio, which measures costs and claims as a percentage of premiums, improved to 99% from 108%.
A placing and open offer announced last month raised £23.2m.
Chairman Allen Thomas said: "The operating profit from continuing operations of £12.6m in 2001, based on our long term rate of investment return, represents a substantial turnaround of nearly £23m from the previous loss."
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.
