Specialist reinsurance broker PWS Holdings has revealed its 2002 brokerage income was up 43% on the previous year.

Releasing its 2002 financial results PWS said its total income was £24m with a pre-tax profit of £5.1m.

Group managing director Peter Smith said: "The strategic expansion we have pursued over the past few years has been successfully translated into robust growth of both revenue and profits.

"Given our progress to date and the investments this has enabled in people, technology and our office network, I am very confident we will maintain the progress made in recent years.

"While 2003 will be no less challenging than last year, it will bring many more opportunities for us to press ahead with our strategically planned expansion of the group. Our prospects for the future are therefore very positive."

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