Peter Cullum's broking group eyes further growth | Insurance Business UK
Sister firms Ataraxia and Minority Venture Partners (MVP), which make up the broking group owned by industry heavyweight Peter Cullum CBE (pictured), is targeting further organic growth in 2023.
Chaired by Cullum and led by group chief executive Dave Clapp, Ataraxia and MVP announced that their combined gross written premium (GWP) for the financial year ended June 2022 stood at £190 million. The sum was attributed to what was described as a “very strong” 20% organic growth in the period.
Ataraxia and MVP make minority investments into insurance brokers – a model that allows brokerages to maintain full control of their businesses while having the support to grow. The group, leaders of which include regional development directors Nick Hopkin and Paul Hughes, currently has minority investments in 30 brokers.
In a statement, it was noted: “The organisation looks to invest in first-class businesses and individuals who want help and support on the next stage of their journey.
“With many years broking experience within the team, [the] objective is to help vendors double, even triple, the size of their business, working together on a joined-up business plan and focusing on organic growth as well as strategic acquisitions.”
Cullum, the name behind the group, is known for having co-founded Global Risk Partners.
Combined, Ataraxia and MVP are said to be set to become a £250 million GWP business within the next three years.