Top level recruitment helps Broadway double value of cover to £2bn
Cheshire insurance broker, Broadway Insurance Brokers, has revealed that the value of corporate and private assets for which it arranges cover had doubled to more than £2bn in the space of less than 12 months.
Chief executive, Daniel Lloyd-John, has also forecast that the firm is set to generate more than £10m in Gross Written Premiums (GWPs) during the current financial year, which he says confirms it as the largest high net worth specialist outside of London.
He said Broadway’s burgeoning reputation since its launch in 2020 had enabled it to make a series of senior hires which, in turn, had spurred a rise in client numbers
Mr Lloyd-John added that the firm had seen an “evolution” in business clients, with a marked increase in the number of larger corporate and international clients.
He said: “The progress which we have been able to make has far outstripped our expectations – something due in no small part to the talent and experience of colleagues who we have been brought on board.
“It has proven to be a ‘win-win’ in the sense that it has not only allowed us to attract and retain ever larger clients who have seen what we can do for others and feel fully confident in having us advise them, too.
“Many ambitious brokers working elsewhere have also noticed the impact we are making. They recognise that the Broadway culture is distinct from anything else around and want to be part of it.”
He added: “As a result, we will be making further strategic appointments in the months to come.”
Mr Lloyd-John disclosed that Broadway’s client book had increased by more than 50% since the start of its current financial year.
The firm launched in the early months of the pandemic with the intention of improving the nature of private and commercial risk management provided to high net worth businessmen and women who he believed had been overlooked in the past.
The approach will mean both Broadway’s private client and commercial divisions doubling their workload during the course of 2023.
Many of Broadway’s corporate clients are companies in a diverse range of sectors and turning over in excess of £250m.
However, Mr Lloyd-John said there had been a “substantial” rise in even larger businesses in recent months, including those with operations outside the UK.
