Ageas continued its protection market growth and halved its pre-tax loss in 2011.
According to the insurer's annual results it almost doubled gross written premiums to £44.6m (£23.6m in 2010) and increased its market share to 8.4% (from 6.4%).
New Annual Premiums were up 37% to £30.9m.
Last year was a busy one for the protection arm which included the launch of a simplified life insurance offering through Asda and the departure of its managing director, Martin Werth.
In its third year of operation since its launch in July 2008, the business grew its customer base by 70,000 people, taking it to more than 190,000 lives.
As a result of this continued growth Ageas halved its pre-tax loss to £5.2m compared to the same period last year (£10.2m).
Overall the company recorded pre-tax profits of £105m, reversed its loss over 2010 of £24.8m.
It was also bolstered by an increase in total income of 67.8% to £1.98bn.
Barry Smith, chief executive of Ageas UK, was very pleased with the returns.
"We set out to deliver significant growth and a step change in profits and this has been achieved thanks to a tremendous team effort, resulting in our best ever performance.
"Overall, it has been a very pleasing year and the successes we have achieved position us well for the future.
"As ever, we remain focused on delivering another successful result during 2012," he added.
