Citynet Insurance Brokers Ltd is a wholesale broker with Lloyd's of London accreditation. Starting out 20 years ago as a specialist energy broker, it soon branched out into other areas such as motor, property & casualty, professional risks, specialty, commercial, cyber and various associated classes.
According to Citynet, its ethos is to “work closely with a relatively modest panel of retail and high street agents across the United Kingdom and Ireland, ensuring that our trading partners enjoy a first class service while also benefiting from a level of ‘exclusivity’ that our competitors in London struggle to provide.”
The company works mainly in the London market, providing specialist services to insurance intermediaries throughout the UK and Ireland.
Citynet Underwriting Services, meanwhile, is a trading name of Citynet Insurance Brokers Ltd and are a first-class underwriting facility with is an A-rated capacity provider. Citynet Underwriting Services specialises in creating solutions for standard, unusual and hard to place risks.
Following a management buyout in 2012, Richard Scott became CEO of the company. The next big change came when Citynet became part of the PIB Group in 2017.
Citynet Insurance Brokers in the news
2000: Citynet begins in Beckenham
2001: Citynet moves its headquarters to London
2003: Made £1m in turnover for first time
2005: Achieved Lloyd’s accreditation
2012: Richard Scott appointed CEO
2014: Acquired RK Harrison Wholesale Business
2017: Citynet becomes part of PIB Group
2018: Made £12+ million in turnover
2018: Made the 1,000 Companies to Inspire Britain list
2019: Achieved £165m GWP
2020: Celebrates 20 years of activity
Need to know
Parent company: PIB Insurance
Type of broker: Wholesale
Service areas: Property & Casualty, Liability, Motor Fleet, Professional, Specialty, Marine, Construction, Energy & Offshore, Cyber, Terrorism, Entertainment, Sports and Leisure, and commercial combined schemes such as Manufacturers, Plastics, Engineering and Property Owners.
Offices: London and Ireland
Acts for 500+ agents
Key people as of 2019
Chief Executive Officer – Richard Scott
Following a management buyout in 2012, Scott was appointed CEO of Citynet and has remained in the position ever since. He was the employee of the newly formed Citynet in 2000, becoming a director of the company in 2001. Scott previously worked for Hambro Legal Protection, T L Ireland/Aldgate Group and FMW Group, and has more than 30 years’ experience in the insurance industry.
Managing Director – Andrew Walsh
With more than 20 years’ experience in the industry, Walsh started his career at R L Davison and Co, where he worked in the motor department for five years. He then worked as a broker at Edgar Hamilton, and as an account executive at Carroll and Partners, before joining the board there in 2009. Walsh came to Citynet as the head of motor fleet in 2011, before being appointed to the board three years later in 2014. In 2017 he was promoted to Managing Director.
Non-executive director – Adrian Colosso
Previously the Group CEO of Heath Lambert and also Group CEO of Howden Broking Group, Colosso joined the board of Citynet as a non-executive director in 2016.
Citynet is heavily involved in community life, and sponsors a number of local sports clubs, including the East Grinstead Rugby Club in West Sussex, the Springfield Football Club under 14s girls team and the under 13s Na Piarsaigh Hurling & Football Club in Limerick.
The company newsletter, sent to clients and staff, highlights news about its own services and schemes as well as regular charity fundraising and events, including staff spending their own time to run marathons for causes close to their heart.