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Sales came to €377.8 million in the first half of 2011
- 8.2% growth in brokerage commission and fees
- 45% growth for the international activities
APRIL Group recorded consolidated sales of €377.77 million in the first half of 2011, up 1.3% on a reported basis but down 2.2% on a pro-forma basis. Brokerage commissions and fees increased by 8.2% (2.2% on a pro forma basis). As the group’s strategy is to refocus on brokerage activities, insurance
premiums declined by almost 10%.
By division, Health & Personal Protection recorded first quarter sales of €249.44 million, down 4.2%, reflecting stable brokerage commissions and fees and a 10.5% decrease in insurance premiums.
Property & Casualty recorded a 13.4% increase in sales to €133.03 million, reflecting strong increases in brokerage commissions and fees of 25% on a reported basis and 6.2% on a pro forma basis, while insurance premiums declined by 7%. Note that Canadian company Elco was consolidated for the first time after its acquisition was finalised in April 2011.
APRIL Group’s international activities continued to develop at a brisk pace, with a 45% increase in sales in the first half.
| (IFRS - €m) | H1 2011 | H1 2010 | Change |
|---|---|---|---|
| Consolidated sales | 377.77 | 372.81 | +1.3% |
| - Brokerage commissions and fees | 248.14 | 229.43 | +8.2% |
| - Insurance premiums | 129.62 | 143.38 | -9.6% |
| Pro-forma consolidated sales* | 377.77 | 386.15 | -2.2% |
- Brokerage commissions and fees | 248.14 | 242.77 | +2.2% |
- Insurance premiums | 129.62 | 143.38 | -9.6% |
APRIL Group recorded consolidated sales of €377.77 million in the first half of 2011, up 1.3% on a
reported basis but down 2.2% on a pro-forma basis. Brokerage commissions and fees increased by 8.2% (2.2% on a pro forma basis). As the group’s strategy is to refocus on brokerage activities, insurance premiums declined by almost 10%.
By division, Health & Personal Protection recorded first quarter sales of €249.44 million, down 4.2%, reflecting stable brokerage commissions and fees and a 10.5% decrease in insurance premiums.
Property & Casualty recorded a 13.4% increase in sales to €133.03 million, reflecting strong increases in brokerage commissions and fees of 25% on a reported basis and 6.2% on a pro forma basis, while insurance premiums declined by 7%. Note that Canadian company Elco was consolidated for the first time after its acquisition was finalised in April 2011.
APRIL Group’s international activities continued to develop at a brisk pace, with a 45% increase in sales in the first half.
| (IFRS - €m) | H1 2011 | H1 2010 | Change | H1 2010 | Change |
|---|---|---|---|---|---|
| Health & Personal Protection | 249.44 | 260.43 | -4.2% | 260.46 | -4.2% |
| Commissions and fees | 155.34 | 155.32 | 0.0% | 155.35 | 0.0% |
| Premiums | 94.09 | 105.12 | -10.5% | 105.12 | -10.5% |
| Property & Casualty | 133.03 | 117.30 | +13.4% | 130.60 | +1.9% |
| Commissions and fees | 93.42 | 74.71 | +25.0% | 88.00 | +6.2% |
| Premiums | 39.61 | 42.59 | -7.0% | 42.59 | -7.0% |
| Intra-group eliminations | -4.70 | -4.92 | -4.91 |
| (IFRS - €m) | 2011 | 2010 | Change | 2010 pro forma * | Change |
|---|---|---|---|---|---|
| 1st quarter | 184.08 | 184.07 | 0.0% | 187.64 | -1.9% |
| 2nd quarter | 193.69 | 188.74 | 2.6% | 198.51 | -2.4% |
| 3rd quarter | - | - 183.68 | - | - | - |
| 4th quarter | - | - 186.83 | - | - | - |
| Total | - | - 743.32 | - | - | - |
* Pro forma consolidated sales represent sales at the same consolidation scope as for the period under review.
