Devitt posts rises in year of MCE collapse

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Motorcycle specialist Devitt Insurance Services grew turnover by 3.3% in 2023 as profits leapt to £4.03m.

Turnover in the year competitor MCE collapsed into administration rose from £14.78m to £15.26m.

Pre-tax profit at the Gallagher-owned broker was up by 39.2% compared to the previous year.

Gallagher bought Romford-based Devitt in February 2022.

RelatedFCA names MCE administrators 

The motorbike experts acknowledged that a key driver of the increase in profit before tax was exceptional integration costs of £454,000 that hit the business in 2022 owing to the takeover dropping out and not being repeated

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