Transactor announces expansion plans as turnover rises 22%
Software provider Transactor has confirmed plans to grow from 55 to 200 brokers by 2016 as it announced an increase in turnover of 22% to £4.5m for the year ending March 2010.
Pre-tax profit was down slightly at £422,000 (2008/09: £475,000).
Managing director, Ray Vincent, described himself as "very happy" with the results adding that with staff numbers now up to 100 the fall in profits was due to high levels of investment.
He said: "We took on more costs with a stronger management team to facilitate growth going forwards which impacted on the bottom line. You can monetise assets too early in the cycle and we do not want to stifle the many exciting research and
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 or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Analysis: Are employee benefits the new diversification frontier for GI brokers?
This year, Top 100 UK brokers Jensten, Lloyd & Whyte and Clear have all joined amii, a trade body representing intermediaries advising on health insurance, protection and wellbeing services, while others have acquired in this space. Sam Barrett looks at why firms more closely associated with general insurance broking are branching out to capitalise on opportunities in the employee benefits market.
Biba 2026 Countdown: Gambit and Mode Insurance’s Ajay Mistry
Gambit Insurance Solutions and Mode Insurance founder and director, Ajay Mistry, recommends being selective and not trying to be everywhere on Wednesday night and sending a quick message/thank you by way of a follow up after the event.
Marsh partners with F1
Global broking giant Marsh has teamed up with Formula 1 as the series’ first official insurance broker partner and official risk partner.
JMG eyes £1bn GWP as it hits £500m
JMG Group has achieved £500m gross written premium during the financial year, setting it sights on hitting £1bn GWP within five years.
Wholesaler Ceta adds renewal hub to portal
Ceta has launched a renewal hub for property business on its Infinity Portal as it labelled renewals “the single biggest revenue battleground” for any intermediary in a softening market.
WF Risks eyes new branches as CEO bemoans lack of M&A opportunities
WF Risk Group has established a new office in Edinburgh under the sub-brand ‘WF Risk Insurance Brokers’ and is looking at other prospective launches across UK and Ireland headed by further senior hires.
HNW broker sets out growth plan as MD reaches 25-year anniversary
Family-led broker Lumley Insurance has unveiled a growth plan to enter a new phase of development as it marks 25 years of managing director John Lumley at the helm.
Adrian Flux renews deal with partner of 22 years
Top 100 UK broker Adrian Flux has renewed with its premium finance provider of 22 years.