Company results
PSC confirms profit, Turner Rawlinson bill and latest buy
Australian-owned consolidator PSC Holdings UK has revealed a post-tax profit of £795,000 for retail broking, alongside a £6m bill for buying Turner Rawlinson and a further deal in 2023.
TH March grows again, but profits edge down
Specialist jewellery broker TH March grew turnover by 4.7% to £9.68m in the year to 31 March 2023, building on a 9.6% rise the year before.
Turnover tops £17m at Bridge but profits slip
Bridge Insurance Brokers has reported a 16.3% fall in operating profit to £815,408 for the year ended 31 March 2023.
Third year of institute operating losses at CII
The Chartered Insurance Institute has revealed an operating loss of £760,000 for 2022 in its institute division, where revenue and membership fell as the wider group swung back to overall profit.
Hiscox: Impact of non-core withdrawal to dissipate by end of 2023
Hiscox expects to see its UK topline growth ramp up in 2024 once it has finished exiting non-core underwriting partnerships, and its new marketing campaign starts to reap benefits.
One Broker posts double-digit turnover and profit surge in run up to Jensten sale
Norwich-based One Broker has revealed achieving a 19.6% increase in turnover, and a 14.7% rise in post-tax profit ahead of its sale to Jensten.
Abbey boosts profits by 15% in 2022
Abbey Insurance Brokers, which trades as AbbeyAutoline, grew post-tax profit by 15.2% to £2.6m in 2022, with turnover also rising.
Double digit profit rise at Kelliher in 2022 as turnover ticks up
Kelliher Insurance Group boosted post-tax profit by 11.5% in 2022 to £868,137.
Seventeen Group boosts turnover 19% but swings back to loss in 2022
Seventeen Group has posted a £1.59m post tax loss for 2022 reversing a profit of £196,199 the year before.
Top 100 UK Insurance Brokers 2023: Methodology
Insuramore possesses a detailed knowledge of the global (and UK) insurance broking market resulting from rankings that it published in June 2023 of the top 300 such groups according to their worldwide revenues in 2022 (see www.insuramore.com/rankings…
Partners& boosts turnover by 54% and cuts operating loss by nearly two-thirds
Partners& grew its turnover by 54% to £34m in the last financial year and reduced its operating loss by over £8.5m, Insurance Age can reveal.
Ten Insurance swings back to profit in 2022 before Acrisure sale
Appointed representatives network Ten Insurance Services swung back to a post-tax profit of £305,789 in 2022, reversing a loss of £101,425 in 2021.
Rebranded GRP reveals loss and deal spend for takeover year
Global Risk Partners, now known as Brown & Brown Europe, spent £150m on 18 deals in the past nine months of 2022 as the sale of the consolidator completed, according to a filing at Companies House.
Accredited’s GWP up 34% in first half of 2023
For sale insurance fronting business Accredited has reported gross written premium of $1.1bn (£900m) for the first half of 2023, a 34% increase compared with the same period in 2022.
Ecclesiastical UK & Ireland COR balloons to 106.6%
Ecclesiastical Insurance’s combined operating ratio in the UK and Ireland shot up to 106.6% in the first half of 2023 from 94.5% in the same period of 2022.
Saga pauses sale of insurance arm Acromas as broking profits slip
Saga has decided to “pause” the sale of its underwriting business Acromas Insurance, the over-50s specialist has confirmed.
One Call boosts policy count and profits in 2022
Doncaster-headquartered One Call Insurance Services has posted double digit increases in profits and policy count for 2022.
SRG reveals Hamilton Leigh cost as turnover grows 21% in 2022
Specialist Risk Investments’ bill for buying motor trade specialist Hamilton Leigh in 2022 totalled £11.52m, according to a filing at Companies House.
Turnover and profit drop at Ageas Retail in 2022
Turnover at broker Ageas Retail, which includes the Ageas Direct and Rias brands, fell in 2022 to £73.27m from £76.44m the year before.
Lloyd’s more than doubles half-year underwriting profits and grows GWP
Lloyd’s more than doubled underwriting profits in the first half of the year to £2.5bn from £1.2bn in the same period of 2022.
TL Dallas posts double digit turnover and profit growth for 2022
TL Dallas Group grew turnover by 16% to £11.39m in 2022, with pre-tax profit soaring 31% to £1.33m.
Ageas posts 25% growth from ongoing UK business
Personal lines broker-focused Ageas grew its ongoing UK business by 25% in the first half of the year to €651m (£558m).
Turnover tops £10m at Premium Choice as profits surge in 2022
Wolverhampton-based broker Premium Choice has posted 6.5% growth in turnover for 2022 to £10.03m and rising profits, with a forecast of a further boost in 2023.
Aviva UKGI profits boosted 40% amid surging investment returns
Aviva UK and Ireland general insurance operating profits increased 40% to £230m in the first half of 2023 (2022 H1: £163m).