Consolidated statement of profit or loss
for the year ended 31 December 2016
|Note||31 December 2016|
|31 December 2015|
|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|
|Investment and interest income||8||7.2||5.3|
|Reinsurers’ share of claims incurred||9||451.7||267.2|
|Net claims incurred||9||(206.1)||(192.9)|
|Adjusted operating profit3|
|Amortisation and depreciation||10||(27.6)||(27.6)|
|Profit before tax||94.3||5.0|
|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.