Livestock and insurance agency Ruralco Holdings has predicted a 30-40% jump in profit after tax for the 2010 fiscal year, saying insurance is now one of its main drivers.

This year’s results are expected to be up from $8.5 million the previous year and the underlying profit before non-recurring items is also anticipated to jump 5-15% higher than last year’s $11.2 million.

MD John Maher says the insurance operation is expected to continue to grow.

He told insuranceNEWS.com.au the company’s increased focus on insurance is paying dividends, but was unable to release any further details until the audited full-year report is released next month (23 November).

“But I can tell you we have been putting a lot more focus into the insurance sector while expanding our network – doing this is giving us a bigger canvas to play on,” he said.