Highway Insurance Holdings Plc today announced pre-tax end of year profits of £21.4m, 2% less than last year's £21.9m. The company is currently in talks relating to the possibility of acquisition.
Gross written premiums were £246.6m, down 2% from £250.2m in 2003.
The Group combined ratio was 95.8%, 3.4 points better than last year's 98.4%.
Chairman Ross Dunlop said: “2004 was a year of demonstrable achievement for Highway in terms of profit improvement and developing the business. The fact that Highway was in takeover talks for nearly half this period illustrates the tenacity of both staff and management, during a time where additional burdens were placed upon them”
