Somerset Bridge pivots to MGA-only model after reaching profit in 2024
Somerset Bridge Group swung to £14.4m post-tax profit in 2024 following years of losses after being bought by Arch Reinsurance in 2021.
The move from red to black ink, revealed in a filing at Companies House, has been followed by changing from a panel approach to a single provider for its broking arm in 2025.
The group, which includes a managing general agent and personal lines motor broking arm Somerset Bridge Insurance Services, which trades through GoSkippy and Vavista, had lost £49.1m in 2021, £32m in 2022 and £13m in 2023.
When Arch Re completed the purchase in 2021 it made a capital injection of £11.7m, followed by £49.5m
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