Source: Insurance Time

Date: 20th July 2006

Financial News

Nash growth slows Carole Nash has seen a slow down in profit growth for the year ended 31 October 2005.

Pre-tax profits rose 25% to £2.7m in 2005 up from £2.2m, while a year earlier the broker had reported a 64% hike in profits.

Turnover in 2005 increased to £25.3m from £22.6m, while overall premium income, rose to £70.7m.

The broker said it had made further appointments to its board to strengthen its position as a top 30 independent broker.

Former chief financial office Allister Hill has been promoted to managing director, while Dave Bowcock, operations director Warren Dickson, marketing director, and Sarah Holt, business development director, have joined the board.

Christopher Woodburn, former head of GISC, and Robert Newton, deputy chief executve of NFU Mutual Insurance Society have been named as non-executive directors.

DAS makes £12.1m DAS UK Holdings, the parent company of DAS Legal Expenses, announced a pre-tax profit of £12.1m in 2005, up from £4.9m in 2004.

Premierline to double Premierline Direct said it was on course to double in size by 2008. The company currently employs 100 staff in its UK contact centre.