Legal expenses insurer DAS has reported a dramatic turnaround in financial performance during 2011. The UK group posted a pre-tax profit of £9.74m last year compared with a £470,000 loss in 2010, when the company was hit by increasing claims frequencies and costs.

Turnover rose from £139m in 2010 to £161m in 2011.

Chief executive Paul Aspin said: ‘Claims frequencies are still very high and awareness of legal protection has grown, so we are unlikely to see [profits] return to pre-recession levels. However, people are also much more aware of the great value and protection that legal expenses products provide.

‘These are particularly exciting times for the group as we embark on a number of key projects to broaden our presence in the market for legal services.’

The group has applied to become an alternative business structure. It ended 2011 with the acquisition of Everything Legal Ltd, owner of the legal advice website Law on the Web.