Britain's largest van insurance broker Autonet set to pay £11m dividend as profits soar

By Daily Mail City & Finance

Published: 04:39 EDT, 29 October 2013 | Updated: 04:39 EDT, 29 October 2013

White van man’s favourite insurance broker Autonet Insurance has posted a healthy rise in full-year profits, spawning an £11million dividend.

The bulk of the pay-out will go to entrepreneur Glynn Keeling who made his first fortune in potteries. The insurance tycoon now owns 78 per cent of Autonet, which has the Insurance4vans, Vans4leisure, and VanXtra brands.

Autonet, which is Britain’s largest van insurance broker, said it had an ‘excellent year’ in 2012 with a gross written premium of £96million, up 8 per cent, helping to fuel a 14 per cent rise in earnings.

White van man's favourite insurance: Autonet said it had an 'excellent year' in 2012

Pre-tax profit increased to £8.6million from £7.6million for the year to December 31, 2012 on sales of £28.9million, showing strong margins.

The highest paid director, thought to be Keeling, enjoyed a dramatic pay hike to £142,329 from £38,006.

The dividend also jumped to £11.8million from £1.9million Autonet, established in 1998 in Stoke-On-Trent, has expanded into home and tool insurance.