Profit shrinks at Arron Banks’ Somerset Bridge
Pre-tax profit at Arron Banks’ personal lines broker Somerset Bridge Insurance Services fell to £5.04m in 2019, down from £6.54m the previous year.
Operating profit also dipped, at £4.96m in 2019 compared to 2018’s £6.53m.
Turnover was down slightly, with insurance broking turnover dropping while the claims handling value increased (see box).
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