“Another year of exceptional financial performance”
Momentum Broker Solutions proudly announces another year of continued financial performance.
“This year’s achievements underscore our commitment to excellence, innovation, and responsible growth,” said Howard Pepper, Managing Director. “We are incredibly optimistic about the future as we continue to lead and innovate in the market”.
In a challenging market landscape, Momentum has shown impressive growth throughout 2023. Supported by the steadfast commitment of its Appointed Representative partners, and the efforts of its dedicated team, we have once more exceeded projections.
Key financial highlights for 2023 include:
Premium Growth: Surpassing all expectations, premium growth soared by an impressive 31% to reach £81 million. This significant achievement was propelled by the addition of new partners, the expansion of existing partnerships, and the ongoing resilience of a challenging market.
Revenue Surge: Gross revenue rose to £15 million, with net revenue exceeding £6 million: an increase of 35%.
Profit Growth: Momentum achieved over 60% growth in profits, a testament to its robust business strategy and operational excellence.
As part of our commitment to nurturing partnerships and fostering growth, we welcomed 20 new Appointed Representatives in 2023. We also experienced extraordinary growth from existing partners, further solidifying our commitment to making the Appointed Representative the business model of choice for independent brokers.
To support the expansion of our partners, we expanded our team with the addition of 25 new colleagues throughout the year. The continued investment in our successful apprenticeship programme is also a highlight, ensuring a pipeline of talented individuals to support future growth initiatives.
A personal highlight of Howard’s happened in September:
“We proudly hosted our second annual conference in Nottingham, providing a platform for collaboration and knowledge exchange among industry professionals, while also rewarding key milestones in our broker partners’ success”.
Reflecting on the exceptional performance of 2023, Howard expressed his gratitude to the dedicated team and valued partners for their unwavering support and contributions to the shared success of Momentum Broker Solutions.
