Cox gets on its high-speed bike

INSURER Cox has revved up higher profits - helped by middle-aged men trying to recapture their youth on a Harley Davidson.

Chief executive Neil Utley, 42, said: 'I'm one of them myself. I got a Harley last year. It is a big target market.'

Motorbike business, up 15% on last year, was also helped by people buying scooters to avoid congestion charges. Cox, up 2p to 88 1/2p, is already Britain's biggest insurer in the sector, providing policies for one in three bikers.

Annual profits before tax rose 22% to £52.1m, with underwriting profit up 32.7% to £52.7m. Shareholders, who received no dividend in 2002, will get 1p a share for last year.

Cox is in talks over a possible all-share deal for rival Highway Insurance Services. The company is keen to buy more brokerage businesses.