Saffron posts results for year to Broker Network takeover
Turnover and profit drop at the broker.
Saffron Insurance Services has posted a 4% drop in turnover for the year ended 31 December 2017.
The decline to £6.83m had a knock on effect for operating and post-tax profit.
The latter fell from £1.15m in 2016 to £224,755 last year.
Organic
In a filing at Companies House the directors reported that the decrease in turnover was due to “difficult market conditions”.
The statement continued: “The directors consider that the company is well placed to take advantage of further opportunities to
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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Lycetts buys broker Cheviot
Lycetts has strengthened its presence in the North East, purchasing fellow Newcastle-based broker Cheviot Insurance Services.
Close Brothers to launch digital commission disclosure consent solution
Close Brothers Premium Finance has announced plans to launch a new digital solution to help brokers fulfill their commission disclosure consent obligations.
Flood Re promises more educational material for brokers in 2025
Flood Re is developing a series of new learning and educational materials for brokers and the wider insurance market for the new year, after recent changes to the scheme.
Simply Business names Julie Fisher as permanent UK CEO
Simply Business has appointed Julie Fisher as UK CEO having held the role on an interim basis.
Biba unveils ‘A New Era’ as 2025 conference theme
The British Insurance Brokers’ Association has revealed that ‘A New Era’ will be the theme for its 2025 conference to be held on 14 and 15 May in Manchester.
The stats: Q3 2024 – Return to growth across the board
Growth in average commercial lines premiums has picked up again in the third quarter of 2024, following a slow-down in the first half of the year, according to the latest Acturis Commercial Broking Index. Ida Axling reports.
SRG buys broker R3
Specialist Risk Group has bought specialist insurance broker, R3, its eleventh acquisition of the year.
Broking Success: Bletchley’s Angela Irvine
Angela Irvine, sales director of Bletchley, outlines how the Birmingham-based broker is looking to build on its solid foundations whilst its independent status is unlikely to change anytime soon.