Momentum Broker Solutions has reported a post-tax profit for the year ended 30 September 2015 of £160,035.
This is an increase of 148% compared to 2014 when it achieved its first profitable year with post-tax profit of £64,630.
The network's turnover also grew, from £808,098 in 2014 to £1.05m in 2015, while its operating profit was £158,811 (2014: £63,035).
Howard Pepper, managing director of Momentum, told Insurance Age: "Our 2015 results have been driven by the exceptional performance
- Brokers face another FSCS hike and situation could yet get worse
- Stuart Vann out at Esure
- Marsh Networks partners with Ataraxia for succession planning
- Marsh accused of trying to squash Marshmallow name by InsurTech start up
- The Blog Spot: An alternative broker manifesto - my 2018 pettifogging petition
- Volante launches first MGA – Edison Motor
- The Burley Group buys Grace Corporate Insurance Services