Lloyds managing agent Beazley is increasing Oak Underwriting's capacity by 40% in 2003.
Oak Underwriting director Stephen Endean said that in 2002 Oak wrote £6.2m gross written premium and was hopi ...
Lloyds managing agent Beazley is increasing Oak Underwriting's capacity by 40% in 2003.
Oak Underwriting director Stephen Endean said that in 2002 Oak wrote £6.2m gross written premium and was hoping to write up to £9.5m next year.
"This has already been agreed with Beazley," he said.
Endean said Oak was in the process of reviewing its budget and expected to make a profit in excess of £100,000 by year end.
He said by September this year, the insurer had made £95,000. "By the end of the year, we will be close to paying off the £150,000 backing," he said.
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.
