Key financial data

Consolidated statement of profit or loss

for the year ended 31 December 2016

 Note31 December 2016
£m
31 December 2015
£m
Gross written premiums 6 769.0 614.9
       
Gross earned premiums 6 691.8 543.3
Earned premiums ceded to reinsurers 6 (375.0) (287.4)
Net earned premiums 6 334.8 255.9
       
Other revenue 7 248.3 219.8
Investment and interest income 8 7.2 5.3
Net revenue   590.3 481.0
       
Claims incurred 9 (711.8) (460.1)
Reinsurers’ share of claims incurred 9 451.7 267.2
Net claims incurred 9 (206.1) (192.9)
       
Acquisition costs   (51.9) (44.3)
Other expenses 10 (146.2) (120.1)
       
Adjusted operating profit3      
       
Amortisation and depreciation 10 (27.6) (27.6) 
Finance costs 15 (10.2)  (91.1) 
       
Profit before tax   94.3 5.0
       
Taxation expense 16 (15.9) (2.7)
Total profit attributable to the equity holders of the parent   78.4 2.3
       
Earnings per share attributable to the equity holders of the parent
(expressed in pence per share)
     
       
Basic earnings per share 17 11.9p 0.5p
Diluted earnings per share 17 11.9p 0.5p

All results arose from continuing operations.

The accompanying notes form an integral part of these Financial Statements (see p.113-120).

3 Adjusted operating profit represents profit before taxation expense, finance costs, amortisation and depreciation and non-trading costs. This is a non-IFRS measure used by management to measure the underlying trading of the business and is provided for information.