Broker says clients wins and retentions with Crossrail and Thames Tideway helped
Broker Health Lambert has reported earnings before interest, tax, depreciation and amortisation (EBITDA) at £17.5m.
The London-based international broker also generated recurring UK operating revenue from continuing operations of £100 million.
Heath Lambert’s income grew in 2008 through a combination of retaining key existing clients, and expanding its client base with some new wins. Major client wins and retentions include Crossrail, Bird’s Eye, Thames Tideway, Halma, Orient Express, British Transport Police, and The Football Association.
The recent expansion of the art, jewellery and private client division reported 5 per cent income growth despite soft market conditions.
The Heath Lambert regional office network has shown 6 per cent growth, with both the northeast and northwest regions showing good growth. Highlights were Leeds at 13 per cent, Manchester 8 per cent and Newcastle 6 per cent.
Adrian Colosso, Group Chief Executive of Heath Lambert, said: “The turmoil created by this global economic downturn has had an impact on the insurance industry.
" It will continue to put pressure on both our clients and competitors during 2009. We live in challenging times, but Heath Lambert is still delivering on its strategic plan.
"We continue to focus our energies on meeting our client needs while building on our core strengths while retaining a strong and growing international capability."