Leicester-based appointed representatives group Momentum Broker Solutions had a “tremendous” 2022, according to founder and managing director Howard Pepper (pictured).
Momentum said it welcomed 17 new partners during the year, while average growth rates among its established ARs were nearly 30%. Gross written premium for Momentum, meanwhile, grew 16% to more than £62 million.
Revenue also saw double-digit growth, at 19%, from 2021. Additionally, the company expanded its roster with the arrival of nine new colleagues last year. Areas that received a boost included broking, operations, and marketing.
“2022 was a tremendous year for Momentum, continuing our record of achieving double-digit growth every year since our formation in 2010,” said Pepper, whose camp expressed its commitment to making AR “the business model of choice” for small independent brokers.
“As in previous years, our results have been fuelled by the excellent performance of our appointed representatives. Thanks to their dedication and professionalism, delivering great service to their clients, and the support we were delighted to provide to them, it has been a record year.”
Pepper believes the AR model has worked well for Momentum. “Our financial alignment with our partners means that their success is our success,” he declared.
The managing director added that the group is “in great shape for the future,” citing a robust pipeline of opportunities, strong strategic relationships with insurers, and the privilege of supporting independent brokers.
“We continue to reinvest our profits in the business which enables us to build a top-quality team while enhancing the processes and systems which support our partners,” said Pepper.
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