Benfield Group Limited said it would see a short-term hit to its profit margin as it invests in an infrastructure expansion.
The London-based reinsurance broker said it anticipates its 2005 results to be flat, but expects to see an increase in revenues in 2006 and 2007.
The broker said it expects recruitment costs will add approximately ?12 million ($22 million U.S.) to expenses this year. Benfield said an additional ?8 million ($14 million) of net investment will go into development of a specialist insurance broking business in the energy, marine and power sectors.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
