Aim-listed broker Jelf Group has revealed its target of hitting £250m GWP over the next two to three years and becoming the leading broker in Wales and the south of England.
In addition, the Bristol-based broker hopes to secure £200m GWP in healthcare alone. Speaking to Insurance Times, Jelf chief executive Alex Alway said: “We want to be seen as the pre-eminent insurance adviser in the south of England and Wales.”
In a week which saw the company reveal a 128% rise in turnover to £17.1m over the past six months and yet another acquisition, growth is very much on the cards. Alway predicted that Jelf will make the top 30 UK broker list this year.
The buy-out of Cheltenham Insurance Brokers last week added an extra £3m of general insurance premiums to its current £110m.
Les Brewin, distribution development director at Jelf Group, said: “This acquisition further strengthens our regional presence in this important location where we intend to continue to grow organically and by acquisition.”
Jelf sees itself as a corporate broker focusing on a number of provisions in particular healthcare, where it presently writes £125m.
However, Alway said trying to convince the market that the company also grows organically remains a challenge.
“Our interim results show that underlying organic growth is up 24%. This is certainly true within our employee benefits and wealth management businesses where we’ve seen introductions through HR departments.
“We’re not just a buy and build company.”