Elite Insurance has seen another year of impressive results for the period 1st April 2013 to 31st March 2014, with a strong improvement in General Insurance performance for the year and a Legal Expenses division which continues to contribute and improve, despite the Jackson Reforms.
Only last month Elite was named Insurer of the Year for Gibraltar in the prestigious M&A Awards.
Chief Executive, Jason Smart, is quick to point out that the company’s burgeoning success is down to the contribution of his talented team of staff. “Over the past year we have received fresh investment funding and have entered into excellent relationships with new business partners, including a number of international top ten brokers and respected re-insurers alike. As such, we have grown our skills base considerably to match demand. I am so proud to be the custodian of such a successful enterprise boasting an excellent team of people who are focused on nothing less than giving their all and making Elite into the award winning business it is today”.
FD Paul Lavender adds, “We are currently operating with a substantial surplus on solvency margin. Audited accounts are due out soon but unofficially I can say that we are looking at an EBIT in excess of £7m on GWP of £115m+. Our cash position continues to grow from strength to strength and we expect further GWP and cash growth in the current year.”