Brought to you by:
Premium Funding
Premium Funding

Insurtech recovery helps Charles Taylor profit

Facebook Twitter LinkedIn Google

Professional services provider Charles Taylor recorded a $25 million profit last year, up $4.7 million on 2017.

Revenue growth to $17.3 million from $4 million in the insurtech business led to a $100,000 profit, turning around a $3.2 million loss in 2017.

Overall revenue increased to $263.6 million.

Claims management profit increased to $12.6 million from $7.7 million. However, the insurance management division’s profit fell to $12.3 million from $13.8 million.

New contracts from leading insurers lifted profit in the claims management division, with revenue up by $31.4 million.