Reich posts flat turnover and lower profits as sale costs bite

arrows

Reich Insurance Brokers grew turnover by a ‘marginal’ 1% to £14.82m in the year of its sale to Howden.

The deal, as exclusively revealed by Insurance Age, went through on 27 February 2023 just ahead of Reich’s financial year end.

The purchase, for a reported £100m, added 140 staff and £120m of gross written premium to Howden.

However, the latest results, filed at Companies House last month for the year ended 31 March, have revealed a hit to Reich’s profitability from the sale.

Profit

Post-tax profit more than halved, falling year-on-year by over £2.23m to £1.81m.

RelatedHowden buys Reich Aston Lark

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

TBIG secures third deal of 2025

The Broker Investment Group has increased its shareholding in Mayfair Insurance to 100%, representing the final stage of a two-step succession plan.

Biba 2025 Countdown: Beazley’s Sam Franks

Sam Franks, country manager and head of partner engagement for the UK & Ireland at Beazley, promises plenty of pink and underwriters on its stand; offers advice about how brokers can differentiate themselves from their peers in the market; and looks forward to being energised and reconnected after the event.

Most read articles loading...

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: