Turnover increases 23% to £102.4m

Lloyd's building

Miller Insurance Services LLP smashed through the £100m turnover barrier in the year ending April 2012.

Miller posted a 23% increase in turnover to £102.4m, a big improvement on the £83.5m in the previous year, according to latest filings at Companies House.

Pre-tax profits grew 55%, to £23.1m (2011April: £14.9m), and organic revenue grew strongly at 11%, at constant rates of exchange.

This was achieved against an 11% increase in administrative expenses, to £80m.

The improvements come in a year when Miller expanded its shareholder structure by becoming a limited liability partnership.

In Insurance Times Top 50 Brokers 2012, Miller was rated top spot in terms of financial performance. Working with financial advisory firm IMAS, Miller was rated for its strong performance in growth, margin, peer performance and past success.