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WEAKER PERFORMANCE FROM SWINTON

Swinton Insurance, which has a large presence in the UK motorcycle market, has reported a 6% drop in revenue to £285m and operating profit down by 5% to £24.2m in its latest full-year financial results.

Commenting on this decline, Swinton chief executive Gilles Normand said: “These figures represent a creditable performance in the context of a highly competitive market and a year of transition. Although new business was written at a lower margin, it is pleasing to note that renewal rates held up well. To build for the future and continue to provide great service for our customers, we invested heavily in our IT systems, rolling out a new telephony system and data centre. We also launched our improved website, rebranded the business as Swinton Insurance and returned to national television advertising.”

Swinton is owned by the French insurance group Covéa. It combines the largest specialist insurance branch network in the UK with online and call centre sales channels.

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