Ockham Holdings has reported an operating profit on continuing operations of £5.7m for the first half of 2002.
The company, which is changing its name to Highway Insurance Holdings PLC, also reported its pre-tax profits fell £5.15m from £5.77m. The operating ratio improved to 98.1% from 99.3%.
The group said it has benefited from favourable conditions in the UK motor insurance market. Although at the same time it has had to deal with the restrictions caused by capital limitations.
Ockham said: "Overall, these factors, combined with an acceptable performance from investment income have enabled the company to achieve what we regard as an adequate result."
