Parent of H&H Insurance Brokers announces annual results

Broking unit praised

Parent of H&H Insurance Brokers announces annual results

Insurance News

By Terry Gangcuangco

H&H Group Plc – businesses of which include Harrison & Hetherington, H&H Land & Estates, and H&H Reeds – has released its financial results, praising broking unit H&H Insurance Brokers (HHIB) for the Carlisle-based firm’s contribution.

For the year ended June 30, the parent company improved its pre-tax profit from £1.2 million in 2021 to £1.5 million this time around. This year’s operating profit, meanwhile, grew from £1.5 million previously to £1.8 million.

H&H Group’s subsidiaries operate in the areas of livestock marketing, auctioneering, commercial print, digital marketing, insurance, and property.

Speaking about the broking business, H&H Group chief executive Richard Rankin stated: “The senior leadership continues to grow and strengthen at H&H Insurance Brokers, and this is clearly reflected in the performance of the business that is set on an upward curve. They have also increased on the strong results from last year.

“The acquisition of Tynedale Insurance Services Ltd, in Hexham, will further bolster this business in the future as it strategically connects our long-established base in Cumbria to our growing base in the North East.”

The group boss went on to note: “Through a partnership with Sage Wealth Management, we have introduced a financial and wealth management service line. Together with our asset finance service line, this enables us to offer a broad suite of financial solutions and protections to our customer base.”

HHIB managing director Paul Graham (pictured), meanwhile, expressed gratitude for the workforce that is manning the brokerage.

“We achieved this business success and growth through our people and by leading the way with our products and services, which are changing the way people think about insurance,” declared Graham. “We have exciting plans ahead and are fully focused on sharing the best possible advice and delivering innovative solutions which best suit the needs of our clients.”

Additionally, Rankin had nice words for the whole H&H Group roster. “I am incredibly proud of the entire team involved within the H&H Group for continuing to rise to and overcome the many recent business challenges,” he said. “These encouraging numbers are a reflection of the industry at the current time, and the dedication and enthusiasm shown by our teams.”

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