Key financial data

Condensed consolidated statement of profit or loss

for the six months ended 30 June 2019

                Note Six months ended
30 June 2019
£m
Six months ended
30 June 2018
£m
  Year ended
31 December 2018
£m
Gross written premiums 6 499.2 485.6   958.3
           
Gross earned premiums 6 475.8 467.2   949.9
Earned premiums ceded to reinsurers 6 (260.2) (248.0)   (509.2)
Net earned premiums 6 215.6 219.2   440.7
           
Other revenue 7 149.8 154.0   308.7
Investment and interest income 8 4.9 3.1   7.0
Net revenue   370.3 376.3   756.4
           
Claims incurred 9 (468.4) (423.0)   (774.6)
Reinsurers' share of claims incurred 9 293.5 261.2   444.0
Net claims incurred 9 (174.9) (161.8)   (330.6)
           
Acquisition costs   (39.3) (34.6)   (74.6)
Other expenses 10 (96.4) (74.8)   (160.6)
           
Adjusted operating profit1   59.7 105.1   190.6
           
Amortisation and depreciation 10 (8.7) (14.3)   (29.0)
Finance costs 13 (4.9) (4.0)   (8.7)
           
Profit before tax   46.1 86.8   152.9
           
Taxation expense   (7.9) (13.9)   (22.3)
           
Total profit attributable to the equity holders of the parent 38.2 72.9   130.6
           
Earnings per share attributable to the equity holders of the parent (expressed in pence per share)        
       
Basic earnings per share 14 5.8p 11.1p   19.9p
Diluted earnings per share 14 5.8p 11.1p   19.8p

All results arose from continuing operations.

The accompanying notes to the Condensed Consolidated Financial Statements were provided in the 2018 Full Year results announcement.