Fortis UK Reports Doubling of Profit

British insurance company Fortis UK has just reported a doubling of profit in 2008 and promised to create a minimum of 150 new

jobs this year.
Company’s non-life profit before-tax increased more than 2 times: it reached £76 million in 2008 compared to £30 million in 2007. The increase was registered in spite of the fact that company’s non-life premiums were slightly down to £758 million in 2008 compared to £760 million in 2007.
Company’s UK chief executive, Barry Smith, said he is very pleased to report an increase in both, profit and premium despite the challenging economic situation in Great Britain and around the world. He added that Fortis is still receiving an active response from the market, which proves the strength of company’s relationships with its partners and brokers, as well as the appeal of Fortis’ insurance products.
Given the market response, the company promises to launch new insurance products in 2009 and 2010. Smith said that company’s financial results suggest that Fortis has strong growth potential due to its multi-channel strategy, which combines constant innovation and service excellence. He promised that company’s growth will allow it to create 150 new job sites in 2009.
The managing director of Fortis Life, Martin Werth, said that financial crisis made people become more aware of their personal protection. That is, the company has hired more advisers so that people can have more access to professional advice.