Lloyd's TSB Insurance Services was the most profitable insurance intermediary in the UK for the 2000/2001 financial year, a new report shows.
The company recorded a pre-tax profit margin of 92% on sales turnover of £440.9m. Compound sales growth for the period from 1998/1999 to 2000/2001 was 20%.
It was followed by Clydsdale Bank Insurance Brokers, which recorded a profit margin of 81.8% on sales of £25.7m.
The report from Business Ratio, titled "Insurance Brokers and Intermediaries", found that of the 129 largest intermediaries in the UK, the average pre-tax profit margin was 44.9%.
Sales turnover in the top ten most profitable companies varied between £5.3m and £440.9m. Willis had the largest sales of £816m, with a profit margin of 15.9%.
The report is published annually as a financial benchmarking tool. In total, it provides 26 different ratios and averages that allow comparisons between companies within the insurance intermediary industry.
The report is available from its publishers, The Prospect Shop, on 020 8481 8720.
