The Chartered insurance brokerage Bruce Stevenson – a Howden company – has had a busy start to the week, announcing its trading results and establishing its succession plans. The brokerage has named Kenny Hogg (pictured right) to replace CEO Edward Bruce (pictured left) on October 01, with Bruce moving to the role of executive chair.
In a Press release, Bruce Stevenson revealed it has increased its turnover by 30% to £11.7 million in the year to February 28, 2023. Meanwhile, the brokerage also posted a profit increase of 33% reaching £3.9 million, with GWP up 18% year-on-year to £63.2 million.
This growth was attributed to several of Bruce Stevenson’s specialist areas including renewable energy, farms and estates, private clients, commercial, social housing, food and drink, hospitality and tourism, property, and whisky distilleries. The brokerage also highlighted that it has been developing new areas of expertise, in life science and technology, education, and risk management.
Commenting on the results seen, current CEO Bruce said: “Our financials tell a really positive story, we have also continued to grow our specialism across multiple industry sectors, while significantly investing in our people. Our people are absolutely key to our success, and our standard is to be the employer of choice in the sector.”
The Scotland-headquartered brokerage has made a number of key hires and promotions over the last 12 months and will continue this focus on recruiting talent going forward. In addition, to organic growth, Bruce said the firm is actively exploring a couple of acquisition opportunities at this time and, “may have more news here in due course.”
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