Underwriting agency Ensurance will continue to pursue new and alternative distribution models to grow its Australian business, it says in a half-year earnings release.

The business is already progressing with plans to expand its broker distribution networks, which has led to improved market penetration and higher levels of deal flow.

In the December half the business posted profit of $325,728, up from $263,429 a year earlier.

Ensurance says the results reflect mainly the continued efforts of the underlying business units in a market that is conducive to organic growth.

It says the establishment of a Casualty division in October last year, with new Environmental Impairment Liability and General Liability products due for release in the second half of this financial year, represents a “significant” area of potential growth going forward.

The update says regulatory approval for the sale of its UK arm to PSC Insurance Group has been received, paving the way for a targeted completion of the $8.2 million deal in the third quarter of the current financial year.

The sale proceeds will be used to support the expansion of the Australian business, Ensurance says.