"Significant milestone achieved with first half-year profit in...

"Significant milestone achieved with first half-year profit in the UK business since incorporation.
▪ Strong growth of the portfolio - up 18% in GWP for Q2 FY2021 v Q2 FY2020.
▪ New capacity agreement with AXA Insurance UK Plc (“AXA”).
▪ New record monthly revenue written in November 2020.

Ensurance Limited (ASX: ENA) (‘Ensurance’ or ‘the Company’) is pleased to provide the following update on its operational and corporate activity for the quarter ended 31 December 2020.
Financial Update
A record breaking six months Ensurance UK Limited has had an extremely strong start to the 2021 financial year, with the business generating its first half-year profit since incorporation of $480k (2020: $381k loss).

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 Ensurance UK Limited’s underwriting ability.

Growth is expected to continue with forecasts predicting the UK’s first profit making year.
New product lines are due to be added to the portfolio in 2021.

November 2020 saw a record-breaking month for the 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...."

This financial performance DESPITE UK going into covid lockdown in December!

The market likes it, with early trading up. Maybe this is the last time we will see the share price so low!