Bluefin announces 2015 financial results

Bluefin Insurance Group today announces its full year results for 2015.

Financial highlights:

- Group turnover increased 3% on prior year to £122m.

- Growth was achieved through the continued, successful delivery of Bluefin’s acquisitions strategy and organic growth within our broking business - especially within the Specialisms business.

- Before amortisation a profit of £1.2m (compared to a loss of £7.2m in 2014).

- Profit after taxation and amortisation improved by £6m (a loss of £17.0m compared to a £23.0m loss in 2014).

Key achievements in 2015 include:

- Four acquisitions completed

- Launch of Bluefin Underwriting, Bluefin’s MGA

- Bluefin awarded 3-star award for exceptional service by Investor in Customers

- Twelve new partner brokers joined Bluefin Network

- Successful restructure of Bluefin’s Broking business with the creation of Retail Broking, Specialisms and Client & Business Services divisions

Robert Organ, CEO of Bluefin Insurance Group said:

“Our strategy is one of growth, leveraging the unique position that we enjoy within the UK market place.  2015 really was a year of extremes – from floods to mergers & acquisitions activity in the marketplace and from shock IPT increases to new legislation for the first time in 100 years. However, against that backdrop, we continue to maintain our focus on our strategic objectives in order to deliver strong results and I’m pleased that we have delivered another solid financial performance. These figures also represent the positive steps we are taking to ensure our clients are at the heart of our business. In 2015 our clients told us that the service we provide is ‘exceptional’ but we are not resting there and continue to build on the progress we’ve made and invest in our people and our infrastructure.

“Like all brokers we are operating in a very tough market. Competition for business remains extremely strong across all aspects of our business however we have seen excellent growth within our Specialisms business.

“I would like to take this chance to thank our dedicated and professional employees for their continued hard work and commitment. They provide our clients with the advice, service and support they need. Without the collective commitment of all Bluefin employees we would not have been able to achieve the strong results of 2015.”