Churchill profit jumps 246% to £77.6m
Direct Line Group-owned Churchill Insurance posted £77.6m profit in 2011, a vast improvement on the 2010 £53.3m loss, while personal motor premiums fell by £1bn.
The direct insurer’s operating profit rose to £108.5m after a £74.8m loss, according to accounts for the year ending 31 December 2011.
The combined ratio improved from 117% in 2010 to 103% in 2011.
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