Matthew Bray, chief executive officer of Lorica Insurance Brokers, has declared that top line growth and control of costs show the talent acquisition model is working.
The broker posted an operating loss of £1.95m for the year ended 31 March 2015, down from £2.87m in 2014.
"The story behind our business is that it is an acquisition of talent model whereas most of our competition buys businesses," Bray told Insurance Age.
"We take on people, we don't breach covenants.
"It is an expensive process
- Ardonagh closes 24 Swinton branches
- Mactavish chases “ultimate failure” £30m British Steel claim
- Mactavish names all British Steel insurers
- Brokers warned over admin fees and commission
- Lamp’s proposed liquidation sparks debate on insurer stability and ratings
- Gibraltar insurer, Lamp, goes into liquidation amid insolvency
- Ardonagh losses decrease for Q1