Top 100 2016 - Welcome

From the sponsor

Congratulations to the UK’s top 100 independent brokers. A thriving independent broker sector is vital for the UK insurance market and for the wider UK economy.

It’s good to see so many brokers on this list, who we are proud to call our partners, and we are delighted to sponsor this special supplement in recognition of your achievements.

This is the second year in a row we have sponsored this supplement reflecting our fundamental belief in the importance of independent brokers to the future success of Covéa Insurance.

Together, our combined strength makes us a formidable force. There is enormous potential for mutual growth as we join forces to create and deliver fantastic insurance solutions for our customers.

I hope the theme of my article in this issue, on the importance of strong partnerships in delivering success, resonates with you and your business.

Simon Cooter
Commercial and high net worth director, Covéa Insurance

Once again it is refreshing to see so many examples of high quality service and expertise in our Top 100 independent brokers supplement.

Each year the line-up changes, often due to firms being bought and growth for new entrants.

In his article on pages six and seven, Tony Cornell addresses a host of issues affecting the sector. One in particular shines out – the search for organic growth.

Each quarter we publish statistics from Acturis that compare like-for-like risks on a 12-month basis. These figures show movements in premium by quarter compared to the equivalent period the year before.

Premium changes can of course be driven by difference in the size of the risk – for example a fleet putting on or taking off vehicles – or by pure movements in premium rates. Most commonly it is a combination of the two factors.

Either way, for many quarters the numbers have not made for pleasant reading. They have indicated at best a stalled trading environment. As costs mount for brokers this is far from an ideal scenario and profitability is being squeezed.

The challenges are the same for all broking businesses. For those in our 2016 listing organic growth has clearly been a test, but not an impossible one.

The year ahead looks set to be little different. Part of the solution will undoubtedly be continuing to work in partnership with insurers – which makes Simon Cooter’s article on pages 41 and 42 a must read.

And I hope you find plenty more in our listing to inspire you to push on again in 2017. Those who thrive will do so precisely because of the high level of service and expertise I referenced at the start.