The British Insurance Brokers’ Association (BIBA) has released its 2024 report and accounts, the first since Graeme Trudgill (pictured above) took over as chief executive on July 4, 2023.
The report outlined a 6% increase in operational turnover, reaching £8.5 million. It also highlighted new initiatives focused on member support and engagement.
According to BIBA, the organisation increased its investment in member services over the past year, with a particular focus on recruitment support, regulatory guidance and member wellbeing. The association also reported a rise in participation across its key events and platforms. Attendance at its Tour of the Regions events rose by 28%, while visitor numbers at The BIBA Conference 2024 increased by 7% to over 9,600.
BIBA said it launched a talent initiative in 2024 aimed at helping members attract younger professionals to the broking sector. Other support included funding for mental wellbeing services, advisory and signposting tools, and facilities such as insurer rating checks, a sanctions screening service and the BIBA Litmus Test Report for unrated insurers.
The association also strengthened its regulatory and policy capabilities with the appointment of a head of regulation. Its policy and public affairs team introduced new engagement methods to increase the organisation’s reach and influence on behalf of members, contributing to progress on several items from BIBA’s policy manifesto.
Additional developments in 2024 included the launch of a new electric vehicle scheme, further work on insurer service issues and updated guidance materials. BIBA also reported a record number of users contacting insurance brokers through its Find Insurance Service.
Trudgill said the association’s financial position had enabled further investment in its support for members. Speaking at The BIBA Conference 2025, he noted that the broking sector is entering a period of change, shaped by economic, technological, and regulatory developments, and said the organisation aims to help members prepare for those shifts.
