Origen losses deepen to £5.6m after claim settlements

Origen's losses deepened from the £2.9m recorded for full-year 2012, which it had largely attributed to putting aside £1.9m for a review into advice suitability. Now the company claimed the "large loss" was due to "the continued investment to develop Origen Workplace Solutions and the final settlement of claims relating to historic sales". Revenues at the business dipped by 1.8%, from £16.2m to £15.9m. Origen's accounts state the network made a gross provision of £747,000 to cover the cost of all new claims against its advisers, which it was made aware of in the year, but it is unc...