DAS legal expenses UK (1998)

Pre-tax profits of specialist legal expenses provider, UK and, more recently, Ireland, rose by 5% to £10.9mn in 1998 on gross premium increase of 4.1% to £38.6mn. However, worsening claims experience and a £1.3mn technical provision led to a 35% deterioration in underwriting result to £810,000. Paid claims rose by 29% from 1997 to £16mn, largely met by the previous year’s provision.