Ruralco Holdings’ insurance operations maintained profit at $5.6 million in the year to September 30 as transit insurance commission fell due to lower livestock and wool prices.

The agribusiness company says its insurance arm performed credibly, with 10% premium growth to $22.1 million, generated by a largely unchanged sales force.

“Strongest performances were achieved in SA and NSW, where targeted specialists introduced to those states in recent years have now built up insurance books with good scale.”

Ruralco’s overall profit fell 59% to $5.7 million on lower commodity prices and dry, hot conditions.