In-depth: Rise of the SME
The SME tag covers a wide range of UK businesses and, as Siân Barton reports, brokers and insurers are coming up with innovative new ways to target the rapidly growing sector
Small and medium enterprises (SME) make up a huge proportion of UK businesses and offer a diverse range of services. It is a big draw for the broker market. SMEs can, according to the Companies Act, be anything from a lone person – perhaps one running a cupcake-making business from their home – to slick, professional organisations with up to 250 employees and turnover of up to £25.9m (see box on page 28).
They all fit under the SME umbrella and this leaves insurers and brokers with the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Hedron CEO Haggart eyes-up offering branded products
Chris Haggart, CEO of Hedron, intends to offer branded products drawing on the strength of the partnership with Broker Insights it entered into last year.
People Moves: 15 – 19 April 2023
Stay in the loop with the latest insurance personnel moves.
First fall in car premiums for over two years
Comprehensive car insurance premiums fell by 5% in the first three months of 2024 after nine consecutive quarters of rises, according to the latest research from Confused/WTW.
Biba Conference 2024 countdown: iprism’s Brad Harmer
In the latest in our series of Biba previews, Brad Harmer, chief commercial officer at iprism, teases a digital challenge on its stand and why he won’t be missing astronaut Tim Peake’s speech.
Three quarters of brokers still concerned about underinsured clients, claims Aviva
According to Aviva’s latest Broker Barometer survey, 73% of brokers are concerned that some of their clients may be underinsured as just 24% of brokers’ clients had increased their sums insured to an adequate level.
Broking profits fall at Saga
Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.
Alan Boswell seals deal for taxi and driving school specialist
Alan Boswell Group has bought The Insurance Centre, a Norwich-based insurance broker with expertise in taxi and driving schools insurance.
US fronter Hadron set to onboard first UK MGA in Q2
Altamont-backed hybrid insurer Hadron is aiming to change the reputation of fronters to businesses that priortise sensible and measured underwriting rather than just scale.
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop