Going along nicely.Review of operationsThe loss for the...

Going along nicely.

Review of operations
The loss for the consolidated entity after providing for income tax amounted to $307,510 (31 December 2019: $2,024,252).Ensurance UK Limited has had an extremely strong start to the 2021 financial year. The UK business generated its first half- year profit of $480K since incorporation. This performance has largely been driven by the continued growth of the portfolio, which is 18% larger in GWP terms than at 31 December 2019. The business also received the first two profit commission payments relating to the 2017 underwriting year. The payments demonstrate the high quality of their underwriting ability.November 2020 saw a record-breaking month for the UK business, with a total of $647K (£358K) of revenue written. It is also the first time since incorporation that the business has surpassed $542K (£300K) of revenue in a single month. New product lines are due to be added to the portfolio in 2021.




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Future Developments, Prospects and Business Strategies
Likely developments, future prospects and business strategies of the operations of the Group and the expected results of those operations have not been included in this report as the Directors believe that the inclusion of such information would be likely to result in unreasonable prejudice to the Group.