Leading Thames Valley insurance firm, Macbeth, has been recognised as one of the UK’s Top 100 Independent Insurance Brokers, in the prestigious annual Insurance Age listing. It builds on the success of the ambitious Reading firm’s first acquisition last year, combined with significant organic growth.
A foundation of independence
Macbeth’s success comes at a time when the insurance industry is navigating uncertainty and the pressures presented by the pandemic. As a Top 100 Independent Insurance Broker, the chartered insurance broker and financial adviser will be able to collaborate with partner insurers in new ways, potentially resulting in better terms for its loyal client base. Key for the leadership team, headed up by Paul Macbeth, is maintaining the firm’s culture and independence.
He comments, “Covid-19 has been a huge challenge for the industry with some insurers struggling with service levels. It’s one reason for the hardening market. It means higher premiums, tougher terms and less insurers looking to write new business. We’ve had to work a lot harder to deliver the right protection for both our commercial and private clients at a sensible cost, but the team is positively embracing the challenge.
“It’s very much been business as usual for us; as a smaller, more agile business, we’ve probably had an advantage over larger firms, being able to invest in delivering better service levels and ensuring that we’re there to support our clients that have been affected by the pandemic. We’ve been lucky enough to have seen the best of the incredibly resilient SME backbone of the country, with some great entrepreneurial success stories.”
A focus on organic growth
Selecting brokers based on GWP (gross written premium), Macbeth qualified in the £12 million -£19.99m band of Insurance Age’s national index. Following last year’s acquisition of CMJ, the firm has seen organic growth of 15% taking GWP to £15m. A combination of attracting new global clients, enhancing an already exceptional claim offering to support client referral, and further investment in operations has been key to Macbeth’s success. Macbeth’s long-term commitment to investing in the Thames Valley has resulted in impressive local growth as well as support from regional businesses.
Ultimately, Macbeth attributes growth to his 33-strong team. “I’m incredibly proud of the team, who’ve stayed engaged and motivated, despite the challenges of the environment. For us, the future is about continued investment in developing our brilliant people and infrastructure. It’s great to be recognised at a national level, but we’ll always be a Thames Valley first brand. 2021 is about growing as the region’s leading insurance and financial business.”