Henderson Insurance Brokers is targeting a record £50m turnover by 2020 after strengthening its position in the North East, with the recent acquisition of a Sunderland-based company.
The firm, which is one of the top five insurance brokers in the UK, currently operates out of three offices in the region – in Newcastle, Stockton and now Sunderland.
Sunderland-based Branch Insurance Brokers, which has been established for more than 30 years, became part of the Henderson Insurance Broking Group when it was acquired earlier this year, taking its total number of UK branches to 15.
Following the purchase, Larry Branch, a former partner at Branch, and his team have all joined Henderson’s and continue to work out of its Sunderland Enterprise Park base.
Henderson’s has now set its sights on achieving turnover of £50m over the next four years, building on its current £35m revenue, with further acquisitions planned.
Jon Gray, director at Henderson Insurance Brokers, who oversees the Sunderland office, said: “The company is on track for continued organic growth, following the strengthening of our core business operations through successful and strategic acquisitions in the North East and on a national scale. Welcoming Larry and his team to the Group has increased our presence in the region, as we now have representation in a number of the major towns and cities within the North East.
“It has been a smooth, transitional process, since launching our Sunderland office, and this will allow us to develop and grow the business further in the region and service even more clients.”
2016 marked the 30th anniversary for Henderson Insurance Brokers, which has established itself as a leading insurance broker and grown from a one office operation in Scunthorpe to multiple sites throughout the UK.
Jon added: “The firm has come a long way over the last three decades, and there is plenty of scope for even more success in the future. Key changes to the Insurance Act this year have revolutionised the industry and this will shape the way in which insurance is carried out. It is exciting times and we are aiming to consolidate our position in the market and increase our national reach.”