Centrepoint Alliance says its insurance premium funding business achieved strong growth last financial year thanks to a clear, focused strategy and an experienced team.

Premiums funded grew 16% to $368 million and profit before tax gained 42% to $3.4 million as “stable operating costs [and] falling interest rates” aided margins, the annual general meeting heard.

Borrowing and overhead costs were contained, while the average loan size was down 6%, with smaller deals more profitable.

Bank funding was successfully secured, with the limit increased by 35% to $145 million and extended to January 2015.

Continued premium funding market share growth is expected this financial year.