Fortis reveals strong Q1 performance

| May 15, 2009 | 0 Comments

Fortis Insurance has released its first quarter performance which show ongoing success for the firm.

By the end of Q1 Fortis’ non-life GWP rose by 11% to £197.4m compared to the previous quarter which recorded gross written premiums totalling £177.7m.

It also marked a 7% rise on the same period last year (Q1 2008) which had GWP at £185m.

Fortis UK’s chief executive officer, Barry Smith, has expressed his delight at the strength of the firm’s financial performance in the first quarter.

Smith went on to say that the results were supported by the strategic headway being made on multi-channel distribution as well as the development of innovative products.

The healthy Q1 performance comes on the back of a doubling of profits for the full year 2008, reaching £76m from just £30m in 2007.

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Category: Financials, Insurance News

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