Key financial data

Condensed consolidated statement of profit or loss

for the six months ended 30 June 2018

 NotesSix months ended
30 June 2018
£m
Six months ended
30 June 2017
£m
Year ended
31 December 2017
£m
Gross written premiums 6 485.6 462.0 930.8
         
Gross earned premiums 6 467.2 403.2 856.1
Earned premiums ceded to reinsurers 6 (248.0) (208.1) (446.0)
Net earned premiums 6 219.2 195.1 410.1
         
Other revenue 7 154.0 148.0 298.7
Investment and interest income 8 3.1 3.1 6.8
Net revenue   376.3 345.2 715.6
         
Claims incurred 9 (423.0) (363.2) (786.9)
Reinsurers' share of claims incurred 9 261.2 219.9 487.4
Net claims incurred 9 (161.8) (143.3) (299.5)
         
Acquisition costs   (34.6) (31.7) (64.9)
Other expenses 10 (74.8) (83.7) (167.1)
         
Adjusted operating profit1   105.1 86.5 184.1
         
Amortisation and depreciation 10 (14.3) (13.5) (27.0)
Finance costs 12 (4.0) (4.1) (8.1)
         
Profit before tax   86.8 68.9 149.0
         
Taxation expense 13 (13.9) (11.0) (22.3)
         
Total profit attributable to the equity holders of the parent   72.9 57.9 126.7
         
Earnings per share attributable to the equity holders of the parent
(expressed in pence per share)
       
       
Basic earnings per share 14 11.1p 8.8p 19.3p
Diluted earnings per share 14 11.10 8.8p 19.2p

All results arose from continuing operations.

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