Seventeen Group announce an increase in revenue from £12,556,884 in 2016 to £16,369,740 in 2017 and a growth in EBITA to from £1.59 million to £2.32 million for the corresponding period.
In terms of the revenue growth of £3.8M approximately £500K related to acquisitions whilst the balance was organic growth across each of the businesses.
Ongoing investment continued during the period which is expected to deliver further growth in 2018 and beyond.
Commenting on the results, Group CEO Paul Anscombe adds “2017 represented a very solid performance by the Group with all three subsidiaries achieving organic growth. The acquisitions made in 2016 and 2017 have integrated exceptionally well and feel very much ‘part of the family’. Seventeen Group is seeing an increasing number of opportunities to grow and we are in an excellent position to capitalise upon this as a long established and completely independent insurance business”.
In 2018 Seventeen Group has completed four further acquisitions:
- Complete Insurance Solutions – acquired in February 2018 and based in Dalbeattie
- Total Insurance Services - acquired in February 2018 and based in Dalbeattie
- Rupert Burgoyne – acquired in February and based in Sussex
- Everard Insurance Brokers – acquired July 2018 and based in Kent
In addition to the above acquisitions, James Hallam is launching a new Healthcare & Protection Division in September 2018 and Touchstone Underwriting are continuing their regional expansion in response to growing broker demand for their products.