Biba increases investment in members as turnover grows in 2024

Biba has revealed that it increased its investment in members in 2024 as operational turnover rose by 6% to £8.5m.

The results, published on 12 July 2025 and covering the 12 months to 31 December 2024, represent the first full financial year under chief executive Graeme Trudgill, who took over the role on 4 July 2023.

In a statement, Trudgill said: “Financially it is pleasing to see Biba continue to grow, but I am most proud of our increasing engagement with members.”

Biba reported a 28% year-on-year increase in attendance for its annual Tour of the Regions initiative, as well as a 7% uptick in delegate and visitor numbers to the Biba Conference 2024 – which brought the total number of attendees to more than 9,600.

Trudgill added: “This is in addition to the numbers of individuals asking to get involved in our various groups and committees.”

‘A new era in insurance broking’

The association also rolled out some member support measures over the reporting period, including a new talent initiative aimed at helping brokers recruit younger professionals, alongside financial backing for mental wellbeing services, advice lines and sanctions checking tools.

Biba said its Find Insurance Service attracted record numbers of users in 2024, with growing demand from individuals seeking broker support.

The organisation reinforced its regulatory and advocacy capabilities too, hiring a head of regulation and expanding its policy and public affairs team to “broaden influence and representation on behalf of members”.

Trudgill said the investment activity was made possible by the association’s firm financial footing. He continued: “As I said at the Biba Conference 2025, we are entering a new era in insurance broking, with new innovation, collaboration and growth, alongside new technological, economic and political challenges. I want to ensure that our members are fully prepared for that.”