Swiftcover posts £13m loss but GWP rises
Swiftcover Insurance Services found itself in the red in 2011 after posting a loss on ordinary activities before interest and taxation of £13.4m for the year ended 31 December 2011 compared with a profit of £932 000 in 2010.
The Axa-owned business also recorded a loss for the financial year before dividends of £10.7m, compared with a profit of 291 000 in 2010, despite reporting a jump in gross written premium to £478.1m
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