Celebrating Our 5-Star Brokerages Award Win

We are incredibly proud to be announced as winners of the 5-Star Brokerages Awards! You can read the full article over at Insurance Business Mag.

The Importance of Brokers in the Insurance Market

“Statistics show that, collectively, general insurance brokers arrange over £74 billion of insurance each year,” said Sheldon Mills, Executive Director for Consumers and Competition at the Financial Conduct Authority (FCA), during this year’s British Insurance Brokers’ Association (BIBA) Conference.

“That is 67% of all general insurance business and 81% of all commercial insurance business in the UK.”

As part of this flourishing ecosystem, the 15 winners of the IBUK 5-Star Brokerages Awards distinguished themselves with impressive growth in revenue, profits, and policies written, as well as in client numbers and broker development. Achieving this during a time of COVID-19 lockdowns, labour challenges, regulatory pressures, and Brexit makes the recognition even more meaningful.

Navigating Regulatory Challenges

The FCA launched a new three-year strategy in April, focused on delivering results over processes and making decisions driven by data. At BIBA, Mills emphasised how brokers play a vital role in helping businesses and consumers secure insurance products that protect them from unexpected financial losses. The FCA, he noted, seeks to support competition, innovation, and growth in the sector.

However, some brokers feel weighed down by what has been described as a “bombardment of regulation.” While the FCA’s goal is to improve conditions for both consumers and businesses, excessive oversight can sometimes reduce competition, limit innovation, and even increase premiums.

“As a business owner, rather than just sitting down and being able to focus on growth opportunities, we probably spend half our project time meeting those requirements,” commented Georgiades of The Plan Group.

A Changing Landscape

Ongoing challenges around post-Brexit trade agreements, regulatory issues, and the costs of compliance continue to create uncertainty. According to the Resolution Foundation, the current trade agreement with the EU is forecast to reduce real wages by 1.8% by 2030 — the equivalent of £472 per worker per year.

Despite frustrations, industry leaders acknowledge the FCA’s good intentions and encourage a more collaborative approach. Suggestions include more proactive auditing, face-to-face engagement with brokers, and clear rulings that provide stronger guidance.

“The regulator’s ultimate ask is if you know something, do something about it,” Lloyd-John explained. “Doing nothing is a big no-no in the regulator’s eyes.”

Looking Ahead

Winning a 5-Star Brokerage Award highlights our commitment to growth, resilience, and client service in a rapidly changing insurance landscape. While regulation remains a challenge, the award is recognition of our ability to adapt, innovate, and succeed — even under pressure.

We are proud of this achievement and remain dedicated to delivering trusted, high-quality insurance solutions to all our clients.