Underwriting agency  Ensurance  says its UK arm has made its maiden profit in  its fourth financial year, reporting more  than  $185,000 in  earnings for  the year to June 30.

The results come on the back of  continued growth in the underlying business and launch of other revenue initiatives,  Ensurance  says.

Ensurance  says the UK business expanded its broker network, leading to improved presence and higher levels of deal flow.

In the June quarter the UK business increased its gross written premium (GWP) by 25% from the corresponding period of last year.

“This increase demonstrates  Ensurance  UK has successfully passed through the transition phase associated with changing capacity from Swiss Re to  Axa  UK and the company is now well placed to continue on its upwards growth trajectory,”  Ensurance said in an earnings report.

“Pleasingly the increase in GWP shows the underlying strength of these results in the face of tight COVID restrictions in the UK which remained in  place for much of the quarter.

“With full restrictions in the  UK being lifted  post quarter end in July, the company is well placed to benefit as the operating  environment improves.”

The agency’s business is concentrated mainly in the UK after it sold its Australian underwriting arm last year to 360 Underwriting for $1.1 million.