Verlingue UK reports growth in 2020 financial results
The broker also revealed a plan to triple its international turnover and to grow its position as a large independent European broker.
Verlingue has reported rising profits for the year ended 31 December 2020, with a turnover of £17.8m, a 2.7% increase over the previous year (2020: £17.3m).
According to a filing on Companies House, the broker’s pre-tax profit increased by 23.5%, reaching £2.97m in 2020, up from £2.4m in 2019.
Additionally, its operating profit hit £2.9m in 2020 (2019: £2.3m). However, its administrative expenses stayed constant at £15m.
Overall, the broker saw a profit for the financial year of £2.2m
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Simply Business boosts profit 42% in 2023
Xbridge, which trades as Simply Business, achieved double-digit profit and revenue growth in 2023.
Sporting Sponsor: Verlingue
Insurance Age caught up with Neal Lumb, executive director of sales and marketing at Verlingue, to hear about the how the business sponsors a range of clubs and sports.
Four insurers able to restart selling GAP insurance – FCA
The Financial Conduct Authority has confirmed that four insurers can restart selling guaranteed asset protection insurance after it took action in February and March to halt sales across the market.
Biba 2024: Aviva’s Rebecca Gambrell on evolving the digital future
Aviva is listening to brokers’ feedback on what they want to etrade and responding appropriately, according to SME portfolio director Rebecca Gambrell.
People Moves: 13 – 24 May 2024
Keep up to date on the latest personnel changes in insurance.
Ex-broker CEO running to be MP
The former owner and CEO of Erskine Murray Insurance Brokers Tom Bartleet is to run as a parliamentary candidate in the 2024 general election for the Liberal Democrats in South Suffolk.
FSCS confirms zero levy for brokers in 2024/25
The Financial Services Compensation Scheme has confirmed the brokers will not have to pay a levy this financial year.
Broker scepticism on capacity in commercial motor eases but still high at 76%
A survey by Direct Commercial has found 76% of brokers expressing scepticism about the availability of specialists or insurers offering capacity for the haulage, waste disposal and courier markets, down from 83% six months ago.
Most read
- Industry pays tribute to former colleague Geoff Kitchen, who died on Singapore Airlines flight
- Personal lines the stand out as Aviva UK GI GWP jumps 19% in Q1
- Brown & Brown retail CEO Carter exits