Momentum profit soars 60% as revenue also leaps

Howard Pepper, Momentum

Momentum Broker Solutions increased profit before tax by 60% to £1.8m last year as it grew revenue to £15.23m from £11.69m in 2022.

The appointed representatives network’s gross written premiums rose to £81m from £62m the year before.

In a filing at Companies House, Howard Pepper, pictured, managing director of Momentum, said: “This is our 13th year of consecutive growth; however, 2023 has been exceptional. Our AR partners have achieved impressive levels of growth and we have attracted a record number of new partners.

“As a result, our top- and bottom-line performance have exceeded expectations.”

RelatedMomentum MD Pepper

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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.

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