The Wesfarmers insurance division achieved gross written premium of $546 million and earnings before interest and tax of $60.1 million for the half-year to December 31, compared with $503.3 million and $63.5 million in the previous corresponding period.

Overall the company announced a profit of $391.9 million for the half year, a decrease of 12.3% on the $446.7 million previously.

The diversified group attributed the decline to lower export coal prices and cost pressures.

But the insurance result included the contribution from the OAMPS acquisition on November 1.

Wesfarmers says the insurance division experienced margin and growth pressure despite continuing to achieve reasonable returns.