Cox bit the bullet on some unprofitable power and marine business last year. The cost of pulling o...
Cox bit the bullet on some unprofitable power and marine business last year. The cost of pulling out, £17m, shoved it into a loss. Operating profits fell from £22.1m to £16.1m. With the slate now clean chief executive Michael Dawson predicts "considerable" progress this year. More money is going into the motor side. It turned in an underwriting profit last year and if motor premiums continue to grow should do even better this year. The retail operation will be beefed up as will links with insurance brokers.
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