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Ensurance announces investor webinar after strong Q2

Ensurance CEO Tom Kent will hold an investor webinar on Wednesday at 12pm.

The underwriting agency says the briefing will be live and interactive, with investors getting the opportunity to ask Mr Kent questions about the business.

Ensurance announced the webinar session today after the business reported last month it achieved improved earnings for the second quarter in the three months to December.

The business made a profit of $277,751 before income tax, a turnaround from the $23,763 loss a year earlier.

Gross written premium (GWP) went up almost 70% to $16.44 million, boosted by its UK business.

Ensurance UK posted a record $11.35 million in GWP, affirming the agency’s decision to focus on growing its business there is paying off.

The agency says the UK arm wrote its first International Engineering risk during the December quarter, projecting the new product line is expected to bring significant, additional growth to the business.

It says the single risk written contributed a total of $675,000 of the GWP during the quarter, demonstrating the substantial impact of the product on the busines.

Ensurance Australia during the quarter posted three consecutive months where GWP on one of its product lines, professional indemnity, exceeded $1 million of GWP per month.

“Hardening market conditions coupled with recently developed in-house IT tools has resulted in Ensurance Australia being able to partner closely with key brokers who are in need of fast solutions to complex insurance placements,” the business said.