Hughes reports falling turnover and a loss in year of Markerstudy deal
Northern Ireland-based Hughes Insurance has reported an 11% fall in turnover to £11.32m for 2024, the year it was snapped up by Markerstudy Group.
The reduction came alongside slipping to an operating loss of £72,000 from a (restated) profit of £892,000 in 2023.
Markerstudy completed the purchase of the broker in November last year, buying it from Liberty Mutual Insurance which had owned the firm since 2014. It moved the business into its distribution arm, now led by Emma Rawlinson, as it looked to build out in the region.
RelatedMarkerstudy-bound Hughes posts stable turnover and profit for 2023 Markerstudy completes Hughes purchaseOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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