Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 20th of August 2018
January 25, 2010

Arista completes start-up and looks to profit

by Gill Montia

Story link: Arista completes start-up and looks to profit

Arista is celebrating three years’ trading and says it will achieve a consistent trading profit from the first quarter of 2010 onwards.

Since setting up shop, the commercial lines underwriter has established a branch network of seven offices; employed over 100 staff; created an online trading solution and launched 11 new products.

With the start-up phase of the business complete, the firm claims to have established credibility with brokers, ranking highly in recent broker surveys.

In the months ahead, Arista will focus on strengthening partnerships with its 300 brokers and develop further products, which will include professional indemnity.

Chief executive, Charles Earle, says: “We are delighted to have reached the three year milestone, and still be on target to achieve a consistent operating profit, despite the thoroughly testing trading conditions of a prolonged soft market and the economic downturn.”

He adds: “Competition and conditions remain tough but we have now built a solid base which we intend to strengthen and enhance further.”

The insurer was set up by Mr Earle (an ex-NIG managing director) and Lyn Carslake, after securing capital from Canopius Group and Equity Insurance Group.

 

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