Backing two Biba schemes and boosting its presence in the media and entertainment sector were both key in helping the firm hit this milestone

Independent insurance broker and MGA Yutree Insurance has clocked up £10m in gross written premium (GWP) within its first 10 years of trading.

Despite challenges arising from the Covid-19 pandemic, the business stated that it is extremely pleased with its solid performance during the past decade.

Alongside organic growth, key achievements that have helped drive Yutree’s performance include being appointed as a provider for two Biba schemes, achieving chartered broker status and growing its influence within the media and entertainment sector.

Yutree managing director Kevin Hancock chairs the Chartered Insurance Institute’s (CII) Society of Insurance Broking.

Yutree Insurance was founded in 2011 by the firm’s non-executive chairman, Leigh Smart.

Organic growth

Hancock said: “We have significantly outperformed our targets in what continues to be a competitive marketplace and £10m GWP is an exceptional achievement considering this is largely organic growth, from a standing start, and with no private equity involvement.”

Yutree director and Biba deputy chair Laura Hancock added: “On the back of year-on-year growth, our intention now is to continue to develop the business and proposition and to continue to offer both our clients and our broker network the best product range and service under the Yutree brand as an innovative and nimble, independent business.

“A big thank you to all of our clients, staff, brokers, insurers and partners for your continued support, which has enabled us to build a business providing a service we are proud to call class-leading.”