South African company Alexander Forbes continued to grow in 2000, with revenue from operations up 33% to R3bn (£262m). The company, which runs over half of its business in the UK, posted a 1% rise in operating profits to 16%.
In the past year, Alexander Forbes has acquired a number of businesses, including the retail and specialist insurance broking operations of the UK's Bradstock Group and specialist broker Alfred Blackmore Group.
Graeme Kerrigan, group chief executive of Alexander Forbes, said: “There has been strong organic growth within our established international business and contributions from our new acquisitions. All the acquired growth in revenues of 21% is most pleasing given the current levels of inflation in our two main markets, South Africa and the UK.”
Alexander Forbes has now grown to be the eighth largest independent provider of financial risk and risk services worldwide.