LitComp's after the event insurance subsidiary, Elite Insurance, has delivered an after-tax profit of £428,000 for the 11 months to 30 November 2006.

The listed company's board has indicated that the unaudited result is in line with expectations. Therefore, the closedown option granted to holders of loan notes in the event Elite is not profitable in its first 12 months of trading has fallen away.

Insurance Times Fantasy Football