Momentum grows turnover and profit as it tops £50m GWP

arrows3

Appointed representatives network Momentum has reported turnover of £9.9m for 2021, up from £7.8m in 2020.

Gross profit was £3.8m (2020: £3.1m) and operating profit reached £799,672 compared to £689,573 the previous year.

Administrative expenses grew year-on-year from £2.4m to £3.0m with profit before tax hitting £778,959 (2020: £667,908).

In its report, filed on Companies House, the firm flagged key highlights during the year. These included gross written premium growth of 37% to £50m. Last year the business placed £39m in GWP via 103 AR members.

The report detailed that, since then, the network

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 copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Markerstudy rebrands broking arm

Markerstudy Broking has been renamed to Markerstudy Distribution to encapsulate the range of products and services across the whole division, the business has confirmed.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: