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The Tentacle

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Mid Year Results

TEn Insurance Services, the network for independent commercial brokers, is pleased to announce that it marked another record month in July 2015, with normal renewable business exceeding £4.7m GWP.

This was only the second time GWP climbed above £4m, the first being in April 2015. Indeed it was only in October 2013 that the company passed £3m in one month and only twice was that figure passed in 2014.

Comments TEn director James Sharp: “To be honest, July was a bit of a surprise. We were expecting growth up to 25% and, thus, the possibility of getting to the £4m target, just about. What we didn’t expect was 60% growth.

Anyway, our 2015 YTD seems us 44% up on on GWP and I am no longer being cautious about the rest of the year. In 2014 of total GWP (excluding one-of premiums for 10 year policies) was about £31.9m and I an not going to be surprised if this year it is approximately £10m more than that.”

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