Heath Lambert posts update on 2008 performance
Independent insurance broker Heath Lambert has announced a number of important trading figures for 2008′s performance.
Continuing operations delivered recurring operating revenue of £100m, with EBITDA (earnings before interest, tax, depreciation and amortisation) remaining steady at £17.5m.
Overall the firm’s income expanded last year due to broadening its client base whilst retaining its existing customers.
A number of big clients were added, including Crossrail, the Football Association, Bird’s Eye, Thames Tideway and the Orient Express.
New clients are still being added, and in January of this year the firm teamed up with the Manufacturing Technologies Association (MTA) to provide the MTA membership with exclusive, tailor-made manufacturing insurance products.
Specialist divisions based in London were well integrated with the firm’s distribution network, enabling the Transportation, Cargo, Marine and Terrorism divisions to record growth of over 10%.
The Leeds office topped a strong regional office growth performance, achieving 13% growth, 5% higher than second place Manchester.
Retail personal lines, bolstered by online trading, rose by 13%, and motor and liability claims management services saw 21% of growth.
Adrian Colosso has stated that the firm has managed to maintain its strategic plans despite the difficult economic conditions currently prevailing.
Category: Financials, Heath Lambert News, Insurance News
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