Fledgling insurance broker exceeding targets as asset values double to £1bn
A Cheshire insurance broker is set for expansion after maintaining its “spectacular” early growth.
Altrincham-based Broadway Insurance Brokers was launched 18 months ago, but revealed that the value of corporate and private assets which it arranges cover for has almost doubled in the past six months to nearly £1bn.
Chief executive Daniel Lloyd-John said the firm is on course to generate more than £4.5m in Gross Written Premiums (GWPs) during the current financial year – three times that for the previous 12 months.
As a result Broadway is embarking on an ambitious programme of activity to capitalise on its growing reputation at home and abroad.
Mr Lloyd-John said: “Even though we have not yet completed two years as a business, we have become the insurance broker of choice for many of the North West’s leading entrepreneurs and wealthiest private individuals.
“That has been due to a lot of very good, hard work and the calibre of people who have joined us.”
He added: “We are significantly ahead of where we expected to be at this point and realise that it presents us with opportunities to accelerate our plans to expand the business in terms of what we are able to do and even where we do it.
“Even though we are based in the North West, we’re attracting a growing proportion of work from elsewhere across the UK and, in fact, in Europe, too.”
He said that will lead to physical expansion, greater breadth in services it provides and developments in how those services are delivered: “These are truly exciting times for us, for our partners and – particularly – for our clients.”
Despite only being established 18 months ago, the business has received several accolades, including being recognised for its role in helping some of the North West’s richest individuals and private business bounce back from the COVID-19 pandemic.
Mr Lloyd-John said Broadway has been engaged to provide risk management support to companies involved in some of the most challenging economic sectors, including energy and logistics.
The past six months have also seen Broadway round out its senior team, with Martin Lilley, its new director of corporate services, teaming up alongside Eleanor Moore, head of its private client division, and Geraint Jones, the firm’s senior private client executive.
