Profit shrinks at Arron Banks’ Somerset Bridge
Pre-tax profit at Arron Banks’ personal lines broker Somerset Bridge Insurance Services fell to £5.04m in 2019, down from £6.54m the previous year.
Operating profit also dipped, at £4.96m in 2019 compared to 2018’s £6.53m.
Turnover was down slightly, with insurance broking turnover dropping while the claims handling value increased (see box).
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@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.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@postonline.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@postonline.co.uk
More on Broker
Richard Tuplin to depart Everywhen
Everywhen’s CEO of insurance broking Richard Tuplin is set to depart the business, with CCO Phil Bayles set to oversee relationship broking.
Broker calls narratives around cyber insurance availability ‘rubbish’
Narratives about public bodies such as local authorities being outside of cyber insurers’ appetites are outdated, according to Ed Ventham, director at specialist broker Assured.
Tougher regulatory oversight causing AR numbers to plummet
Data from the Financial Conduct Authority has revealed the number of appointed representatives active in the insurance industry has sharply decreased, with enhanced oversight potentially to blame.
Throwback Thursday: Howden saves insurers millions
Insurance Post’s Throwback Thursday steps back in time to November 1975 to remind you what was going on this week in insurance history when Alexander Howden, the brokerage created by CEO of Howden Group’s David Howden’s great-great-great grandfather, boasted how much he was saving insurers.
Q&A: Onno Janssen, PIB Group Europe
Onno Janssen, CEO of PIB Group Europe, speaks with Insurance Post about the business’s recent debt raise, the status of its European expansion plans, and the breakdown of its sale to Gallagher.
Q&A: Jake Wells, Meshed
Jake Wells, co-founder and chief operating officer of Meshed, discusses the insurtech’s vision of providing high quality service to small-to-medium businesses through the artificial intelligence-native broking platform.
Chris Lay to retire as Marsh UK names new CEO
Marsh has announced its UK CEO Chris Lay is to retire in Q1 2026, with the president of Marsh Asia James Addington-Smith named as his successor.
Why insurance is still a people business
Trade Voice: Graeme Trudgill, CEO of the British Insurance Brokers’ Association, says the value of in-person connection is firmly in evidence on the trade body’s regional tour.