Insurer reports steady growth

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South west general insurance firm, Cornish Mutual, has reported steady growth in 2014 despite a turbulent year.

Ian Pawley
Ian Pawley

The exceptional weather conditions during the early part of 2014 lead to the insurer paying out approximately £3 million in storm damage to support its members across the region.

For the year ended September 30, turnover (gross written premiums) lifted 1.3% to £20.5 million, with pre-tax profit at £300k.

Member funds increased by £1,042,450 to give a total of £19,396,161 and the number of staff employed by the organisation increased slightly to 104.

Cornish Mutual chairman, Ian Pawley, said: “The year ending 30 September 2014 was a challenging one for many homeowners and businesses in the south west. As a mutual organisation we are very proud to have played a part in helping our members who were affected by the bad weather to get back on their feet.”