CHARLES TAYLOR H1 PROFITS RISE 26%

UK-based loss adjusting and insurance management firm Charles Taylor has reported a rise in profits and revenues in the first half of 2019 as it continues to expand its claims management and insurtech business. In the first half, Charles Taylor posted a 26% increase in pre-tax profit to £7.3m and a 15% rise in revenue to £141.7m. Revenues from the insurance management business dipped in the first half, reflecting the closure of The Standard Club’s Lloyd’s syndicate, but the unit delivered increased profits during the period. The company reported growth in its claims services and insuretech businesses with new clients wins and organic growth. Losses at Charles Taylor’s insurtech business narrowed while revenues doubled and operating costs fell.