UNA Alliance

We are proud to announce that Thomas Carroll took home two awards at the Insurance Age UK Broker Awards 2018. After being named Commercial Lines Broker of the Year first, they were absolutely thrilled to go on to win the biggest award of the night – Insurance Broker of the Year.

Insurance Age’s UK Broker Awards, which were held at the Brewery in London this year, recognises the best in broking and celebrates their successes. Thomas Carroll were delighted to have a strong presence at the awards, having also been shortlisted in the Cyber Broker, Claims Team and Training award categories.

Thomas Carroll were also named Insurance Broker of the Year at the prestigious British Insurance Awards back in July this year. These latest accolades recognise the hard work of everyone at Thomas Carroll and our continuous commitment to the insurance industry. Well done to the whole team!

Founding UNA Member, Sutton Winson is very proud to have won a Training Award at the 2018 UK Insurance Age Broker Awards. This award was designed to recognise investment we make in the staff skills - both technical and "soft". 

Throughout their history, they have developed and grown their own people. A demonstration of this is Martin Coppard who joined us as an Account Technician in 2000 and is now a NEBOSH qualified Risk Manager.

The high level of focus on training and development has been recognised as a part of the Chartered Broker application and our achievement of Investors in People Gold standard. In 2017, their employees won both the UNA Alliance Best Newcomer and Achievements Awards, and an employee was selected for CII New Generation Programme. Plus we employed 3 supplementary people on a 2-year Graduate Trainee Programme.

They are also supportive of wider development initiatives; for example, they’re funding a Russian course for an employee who expressed an interest in learning the language to engage with a growing number of the HNW Russian individuals coming to the UK. These external courses are supplemented by extensive internal training by experts in their areas on technical and soft skills, which adds ability to our skills portfolio and enhances our service proposition.

They're fully committed to becoming one of the best Independent Brokers to work with and for, through enhancing long term career opportunities, increasing staff motivation and retention.

Mr Toomey of Apex Consultants (first apprenticeship provider to secure CII accredited provider status) commented: “Since we started working with Sutton Winson 15 years ago, we have seen a very impressive commitment to apprenticeships as well as other learning. The fact that more than 30% of its staff have gone through the apprenticeship route demonstrates the value it places on the programme and its structured, supported learning.

“Sutton Winson was a natural early adopter for the Level 4 apprenticeship and it is pleasing to see high numbers of Level 3 apprenticeships moving to the next level and, in doing so, achieving the CII Diploma in Insurance. We expect the Level 4 apprenticeship to result in higher numbers of people across the sector completing the Advanced Diploma in Insurance.”

Mario Zakakiotis (Graduate Trainee) commented: "Since starting at Sutton Winson I have been given the support and encouragement that has enabled me to develop personally and professionally. I feel part of a team, not just in my chosen area but throughout all areas of the business. The training programme ensures I get the most out of my development in order to reach my full potential and is setting me up for a great future in the insurance industry. I look forward to what lies ahead."

Congratulations to three of our Una members for reaching the UK Broker Awards 2018 Awards shortlist.

Centor, Sutton Winson and Thomas Carroll are all finalists in the Training Award category with Centor & Thomas Carroll also nominated for both the Claims Team Award and Commercial Lines Broker of the Year Award.

Thomas Carroll has also been shortlisted for the new for 2018, Cyber Broker Award.

Una is again delighted to be shortlisted for the Network of the Year Award for the second year running.

Now in their 25th year, the UK Broker Awards hosted by Insurance Age are the leading platform for national recognition within the insurance broker market. The awards are the ideal way to demonstrate to your peers, clients and insurer partners that you have both a track record of success and the skills and expertise to grow in the coming months and years. 

The final will be held on 14th September at The Brewery, London. 

Good luck to you all!

Manchester-headquartered UNA Member, Finch Insurance Brokers has reported a 7% rise in turnover to £3.87m for the year ended 31 December 2017.

Operating profit was also up 2% to £487,135 as pre-tax profit nudged up to effectively the same level.

The increases mark a change around from the 2016 results when profits and turnover fell.

At that time group managing director Mike Latham explained that the reductions were due to investments as the firm targeted sustainable growth.

Income

Speaking about the most recent figures Latham told Insurance Age the uptick was consistent with the plan of investing in service and talent.

He noted that new business income had outweighed lapsed clients by a net 9.5%.

“This year we will continue to focus on organic growth and expect to do something similar again,” he said. “But the profitability will be enhanced as the investments were made in 2016 and 2017.”

Mid-market

The company, which places around £38m of gross written premium, specialises in mid-market particularly for hospitality and tech clients typically paying £100,000 to £1m of premium.

Latham said there had been growth “across the board” of property, motor and casualty. He noted that cyber was picking up but was starting from a small base.

The wider group, known as Alec Finch Group, also offers employee benefits and turnover here was also up at £5m (2016: £4.7m).

Double

Latham has previously stated his intention to double the wider group by 2020 and he reiterated the plan.

“We are still planning on £10m by 2020,” he confirmed explaining it would be a mix of organic growth and bolt-on acquisitions. He said he was hopeful of completing at least one deal this year.

The Una and Worldwide Broker Network member was bought by French firm Verlingue in 2007.

Latham came on board in October 2012 having worked at Jelf. He was latterly regional managing director of the North and Midlands having been managing director of Manson Insurance Brokers when it was bought by the consolidator in January 2008.

“Verlingue’s ambition is to be much bigger outside of France than they currently are,” he began.

“The approach is always to invest in their territories and management teams.”

Predictions

Latham admitted to having been “pleasantly surprised” by how much he had enjoyed working with Verlingue.

“I was very clear around… if I was going to take on this project that I would be given the authority and the autonomy to go ahead and do it.

“I wouldn’t want to work for anyone else.”

Looking ahead he predicted 10% organic growth for 2018 and a double digit surge in profitability.

“The [profit] number next year will be even more,” he concluded.

“We have enhanced profitability with investments made throughout 2016 that are beginning to drive through.”

Following months of negotiations, the FCA has now given formal approval for the acquisition of Tysers by fellow UNA Member, Integro.  The acquisition is Integro’s largest to date and demonstrates the company’s commitment to expand into attractive, specialist insurance markets. The highly compatible business structures and cultures will create an attractive and competitive brokerage, with double the scale.

Integro and Tysers have complementary wholesale capabilities, which will provide opportunities to expand and enhance the businesses client offering – with new solutions and expanded geographic coverage.

Recognising its strong heritage, the combined wholesale business will trade under the Tysers brand and be led by Integro’s current Co-Heads of UK Wholesale, David Abraham and Jason Collins. Tysers’ UK Corporate team members will join Integro’s UK Retail team, overseen by Bob Pybus, Integro’s Head of UK Retail, and trade under the Integro brand.

Founded in 1820, Tysers has successfully grown from a marine trade business to a specialist broker operating internationally in four practice groups - North America, international, reinsurance and marine and specialty. Originally a family firm, Tysers became a private partnership before incorporating in 2001. In 2007, a new generation spearheaded a buyout of Tyser & Co, which led to it being 100 per cent colleague-owned.

Integro, founded in 2005 and owned by Odyssey Investment Partners, LLC, has evolved to become a leading specialty insurance brokerage firm, serving clients in over 125 countries from more than 40 offices across the globe. The business is active in a range of speciality areas, including aviation, benefits consulting, entertainment and sport, financial institutions, healthcare, marine/energy, professional services, real estate/construction; reinsurance; retail/consumer services; and transportation and logistics.

UNA Board Member, Bob Pybus, said: “In addition to their wholesale team, Tysers brings a talented retail team which will improve our ability to serve corporate clients out of London.”

It’s business as usual for both members and their interaction with UNA and our project groups, so we very much look forward to hearing more about the exciting opportunities this opportunity presents.