A surge in new business has helped Pinnacle Insurance Holdings record a 57% increase in profit during 2002.
Announcing its 2002 annual results the creditor and warranty specialist said a 36% rise in gross premiums written had boosted profits by 57% from 2001.
The insurer revealed that its strong performance would enable it develop new products and services.
Pinnacle's deputy chairman Christopher Schwick said: "2002 was an extremely satisfying year for Pinnacle. We harnessed our industry insight in order to deliver benefits to all stakeholders: our clients, our people and our community.
"Despite a significant degree of global uncertainty, including a raft of impending regulation here in the UK, we face the future with great confidence."
