Insurance Times: Top 50

All
Commercial
Personal
London Market

2009
2010
2011

Rank	Company Name	Brokerage (£ 000s)	Brokerage change	EBITDA (£ 000s)	EBITDA change	EBITDA margin	Turnover per employee (£)	Sector
2 0	Marsh	472,900	5.5%	139,100	1189.9%	29.4%	121,288	London Market
22 3	Hastings Insurance Services	67,161	40.4%	11,407	1130.5%	17.0%	85,774	Personal
27 1	BMS Associates	50,217	7.0%	1,060	1091.0%	2.1%	188,079	London Market
47 1	Oxygen Group	17,896	-5.0%	-2,734	1083.4%	-15.3%	97,261	London Market
42 NaN	Lonmard	20,753	-3.2%	3,496	904.6%	16.8%	156,038	London Market
9 0	Bluefind	133,649	-4.5%	13,752	807.0%	10.3%	75,338	Commercial
17 5	Giles Insurance Brokersb, d	73,200	22.0%	23,900	605.9%	32.7%	69,781	Commercial
33 4	Towers Watson Reinsurancee	38,627	27.7%	11,100	358.7%	28.7%	223,277	London Market
22 4	Jelf	58,389	44.0%	9,708	286.0%	16.6%	61,722	Commercial
41 0	Cobra	22,467	56.9%	2,649	272.6%	11.8%	829,050	Commercial
33 0	Besso Holdings	30,018	-4.0%	1,027	266.4%	3.4%	106,447	London Market
40 NaN	Allan & Allan	23,039	5.1%	6,778	241.9%	29.4%	59,226	Personal
21 2	Endsleigh Insurance Services	64,988	-0.8%	18,702	238.3%	28.8%	624,884	Personal
32 3	Denis M. Clayton (Towers Perrin)	31,122	18.9%	3,794	226.5%	12.2%	167,323	London Market
10 2	Locktond	102,554	1.5%	8,894	222.8%	8.7%	137,287	London Market
1 0	Aon	640,490	-4.5%	125,378	205.3%	19.6%	127,208	London Market
38 1	Newman Martin & Buchane	27,067	6.0%	9,462	190.8%	35.0%	163,052	London Market
40 6	Newman Martin & Buchan	23,016	22.1%	-1,186	175.7%	-5.2%	138,651	London Market
19 4	Arthur J. Gallagher	70,358	23.8%	13,261	168.2%	18.8%	195,184	London Market
36 0	United Insurance Brokersd	27,300	32.0%	4,023	157.2%	14.7%	99,635	London Market
50 3	Bollington	15,037	0.2%	2,892	157.1%	19.2%	102,291	Commercial
36 3	Besso Holdings	31,177	3.9%	2,515	144.9%	8.1%	118,996	London Market
9 10	Arthur J. Gallagher (UK)b	187,752	166.9%	29,847	125.1%	15.9%	100,563	London Market
30 11	Group Direct	33,174	42.3%	7,500	120.6%	22.6%	67,154	Commercial
12 1	Lockton	99,462	-3.0%	19,471	118.9%	19.6%	132,616	London Market
15 1	Capita Insurance Servicesb, d	97,500	26.0%	18,133	117.5%	18.6%	65,000	Personal
49 NaN	Berry Palmer & Lyle	16,349	47.7%	5,350	109.5%	32.7%	347,851	London Market
31 1	RFIB Group	32,946	14.1%	5,586	82.7%	17.0%	122,933	London Market
44 3	Fortis Insurance Solutions	16,601	2.9%	3,270	81.7%	19.7%	57,843	Personal
28 4	THB Groupb	43,846	-7.2%	4,829	75.5%	11.0%	97,436	London Market
18 11	Capita Insurance Servicesd	68,089	94.5%	6,732	72.6%	9.9%	51,622	Personal
48 3	AHJ Holdings	17,681	-6.8%	3,354	66.0%	19.0%	178,596	London Market
15 2	KwikFit	82,654	19.2%	20,802	65.2%	25.2%	83,237	Personal
13 2	Heath Lambert	99,300	3.7%	17,200	56.4%	17.3%	66,734	London Market
13 2	Ovalb, d	95,997	-10.3%	17,000	52.7%	17.7%	76,067	Commercial
37 3	Tyser & Co	26,829	12.5%	3,419	51.7%	12.7%	142,707	London Market
7 0	Swinton Groupe	278,925	34.0%	71,341	51.6%	25.6%	72,204	Personal
29 4	BMS Associates	42,629	-6.0%	1,533	51.4%	3.6%	144,017	London Market
23 6	Brightside (Group Direct)	66,157	48.0%	10,072	51.1%	15.2%	98,156	Commercial
25 2	Barbon Insurance	51,682	16.8%	12,795	51.0%	24.8%	667,808	Commercial
19 3	Hyperion Ins Group	75,344	20.9%	12,406	49.3%	16.5%	135,755	London Market
26 2	R K Harrison Group	45,233	20.7%	12,068	48.8%	26.7%	118,102	London Market
43 2	Abbey Protection	19,377	18.9%	9,744	46.1%	50.3%	838,831	Personal
25 2	Hyperion Ins Group (Howden)	46,656	21.7%	6,329	43.8%	13.6%	121,817	London Market
13 1	KwikFit (Ageas)d	98,697	17.0%	27,234	40.9%	27.6%	90,134	Personal
38 1	Carole Nashd	24,937	0.1%	8,746	39.7%	35.1%	82,573	Personal
1 0	Aone	686,760	34.6%	130,380	39.4%	19.0%	134,923	London Market
21 2	CCVb, d	61,000	5.9%	22,000	36.6%	36.1%	78,710	Commercial
9 2	HSBC Insurance Brokers	146,300	12.8%	14,600	35.6%	10.0%	91,438	London Market
22 3	Hyperion Ins Group (Howden)e	62,328	33.6%	8,307	31.3%	13.3%	139,125	London Market
35 1	Tyser & Co	35,540	6.2%	5,056	30.8%	14.2%	155,197	London Market
2 2	JLT Groupf	608,679	17.1%	121,585	28.3%	20.0%	97,984	London Market
44 1	Abbey Protection	20,488	5.7%	12,421	27.5%	60.6%	87,556	Personal
10 2	Cooper Gay & Co	156,111	55.4%	21,426	27.3%	13.7%	149,963	London Market
47 1	C.J. Coleman	16,817	12.8%	2,347	27.3%	14.0%	117,601	London Market
16 0	RIAS (Fortis)	77,599	0.0%	24,782	27.0%	31.9%	73,833	Personal
32 1	Price Forbes	40,501	13.3%	6,398	26.8%	15.8%	192,862	London Market
34 0	Windsor	27,646	14.8%	8,517	26.1%	30.8%	143,990	London Market
42 0	Lark Groupd	20,695	4.0%	4,786	24.5%	23.1%	792,911	Commercial
16 2	Capita Insurance Servicesd	77,376	13.6%	8,338	23.9%	10.8%	62,199	Personal
36 2	Windsore	32,838	14.5%	10,186	20.7%	31.0%	157,875	London Market
45 5	Abbey Protection	16,294	10.1%	6,671	20.6%	40.9%	79,097	Personal
42 3	Lark Groupb, d	19,904	1.6%	3,843	18.1%	19.3%	75,681	Commercial
47 2	Bollington	15,006	27.9%	1,125	17.8%	7.5%	67,291	Commercial
8 0	BGL Groupd	271,118	3.7%	63,697	17.6%	23.5%	133,753	Personal
28 1	THB Group	48,389	4.7%	5,406	17.4%	11.2%	109,477	London Market
8 0	BGL Groupd	261,427	15.4%	54,166	17.1%	20.7%	124,727	Personal
41 0	Cobra	22,679	0.9%	3,051	15.2%	13.5%	82,770	Commercial
17 3	Millerd	76,864	13.6%	8,205	13.4%	10.7%	161,478	London Market
26 4	Barbon Insurance	53,583	3.7%	14,486	13.2%	27.0%	83,463	Commercial
34 3	Tyser & Co	33,465	24.7%	3,865	13.0%	11.5%	166,492	London Market
35 1	United Insurance Brokersd	33,321	21.6%	4,534	12.7%	13.6%	110,334	London Market
11 3	Cooper Gay & Co	100,472	21.1%	16,833	11.8%	16.8%	152,000	London Market
49 0	Berry Palmer & Lyle	17,560	7.4%	5,975	11.7%	34.0%	351,200	London Market
17 0	Miller	76,864	0.0%	9,135	11.3%	11.9%	161,819	London Market
6 0	The Towergate Partnershipb, d	372,200	5.4%	156,300	11.2%	42.0%	112,822	Commercial
3 1	Willisa	461,176	11.3%	109,376	10.3%	23.7%	131,727	London Market
15 1	RIAS (Fortis)	80,641	3.9%	27,062	9.2%	33.6%	792,151	Personal
29 NaN	A-Plan	45,390	7.9%	16,630	9.1%	36.6%	654,978	Personal
24 2	R K Harrison Group	59,156	30.8%	12,966	7.4%	21.9%	128,600	London Market
5 0	JLT Group	448,500	14.7%	91,362	5.8%	20.4%	83,271	London Market
11 2	Bluefind	132,455	-0.9%	14,528	5.6%	11.0%	77,369	Commercial
7 1	BGL Groupd	296,376	9.3%	66,915	5.1%	22.6%	137,978	Personal
7 0	Swinton Groupe	278,925	0.0%	74,492	4.4%	26.7%	72,200	Personal
24 1	CCVb, d	64,555	8.2%	20,595	4.3%	31.9%	88,190	Commercial
4 1	JLT Group	519,900	15.9%	94,787	3.7%	18.2%	91,774	London Market
50 NaN	Oamps	17,324	24.6%	5,521	3.1%	31.9%	105,634	Commercial
16 1	RIAS (Ageas)d	84,331	4.6%	27,612	2.0%	32.7%	86,140	Personal
38 4	Windsor	28,679	3.7%	8,440	0.9%	29.4%	147,829	London Market
29 1	A-Plan	47,725	5.1%	16,649	0.1%	34.9%	68,374	Personal
3 1	Marsha	603,470	-19.5%	n/a	n/a	n/a	134,104	London Market
1 1	Marsha, e	749,608	58.5%	139,100	0.0%	18.6%	161,518	London Market
4 1	Willisa	581,935	8.4%	n/a	n/a	n/a	124,505	London Market
5 0	Saga/Automobile Associationd	504,000	0.0%	n/a	n/a	n/a	148,235	Personal
5 1	Saga/Automobile Associationd	504,000	12.0%	n/a	n/a	n/a	148,235	Personal
4 1	Saga/Automobile Associationd	450,000	6.7%	n/a	n/a	n/a	132,353	Personal
8 1	Swinton Group	271,715	-2.6%	74,492	0.0%	27.4%	64,818	Personal
14 4	Ovald	98,000	2.1%	17,000	0.0%	17.3%	85,217	Commercial
24 NaN	Hastings Insurance Services	47,981	46.4%	-16,296	n/a	-34.0%	45,915	Personal
27 4	Barbon Insurance	44,235	-13.1%	8,475	n/a	19.2%	68,159	Commercial
31 1	Adrian Fluxd	41,128	10.3%	n/a	n/a	n/a	66,229	Personal
32 3	Adrian Fluxd	37,278	35.5%	n/a	n/a	n/a	691,614	Personal
35 3	Adrian Fluxd	27,521	12.4%	n/a	n/a	n/a	57,696	Personal
33 NaN	Price Forbes	35,748	2.8%	5,046	n/a	14.1%	187,162	London Market
41 NaN	Cobra	22,467	52.1%	723	n/a	3.2%	104,987	Commercial
43 1	Lark Groupe	20,526	-0.8%	n/a	n/a	n/a	78,644	Commercial
45 1	Hendersond	20,144	6.0%	n/a	n/a	n/a	72,986	Commercial
46 NaN	Oxygen Group	18,846	n/a	231	n/a	1.2%	102,424	London Market
46 NaN	AHJ Holdingsd	15,740	16.2%	2,104	n/a	13.4%	167,447	London Market
50 NaN	Oamps	14,310	80.0%	5,620	n/a	39.3%	127,768	Commercial
12 1	Heath Lambert	99,300	0.0%	17,200	0.0%	17.3%	667,338	London Market
48 4	Fortis Insurance Solutions	16,601	0.0%	3,270	0.0%	19.7%	578,432	Personal
49 NaN	Broker Direct	14,951	37.4%	2,833	n/a	18.9%	61,275	Personal
18 1	Giles Insurance Brokersb, d	71,300	-1.2%	23,700	-0.8%	33.2%	679,694	Commercial
19 1	Miller	62,850	0.3%	7,237	-1.3%	11.5%	140,290	London Market
6 0	The Towergate Partnershipd	365,900	2.3%	137,500	-2.3%	37.6%	91,475	Commercial
23 2	Arthur J. Gallagher	56,852	-6.7%	4,944	-2.5%	8.7%	130,096	London Market
45 1	AHJ Holdingsd	18,975	20.6%	2,021	-3.9%	10.7%	197,656	London Market
14 4	Cooper Gay & Co	82,984	30.9%	15,055	-4.7%	18.1%	154,245	London Market
28 0	THB Group	46,237	5.5%	4,604	-4.7%	10.0%	998,639	London Market
18 0	Giles Insurance Brokersb, d	75,500	5.9%	22,500	-5.1%	29.8%	62,917	Commercial
39 1	Carole Nashd	23,828	-1.6%	6,643	-6.2%	27.9%	76,617	Personal
14 1	KwikFitd	84,328	2.0%	19,323	-7.1%	22.9%	849,221	Personal
30 1	RFIB Group	43,449	13.4%	4,120	-7.2%	9.5%	141,068	London Market
46 2	Ageas Insurance Solutions (Ageas)	19,840	19.5%	3,022	-7.6%	15.2%	52,348	Personal
21 3	R K Harrison Group	67,234	13.7%	16,302	25.7%	17.7%	140,657	London Market
11 3	Ovalb, d	107,000	5.2%	14,733	-8.3%	13.8%	85,875	Commercial
48 0	C.J. Coleman	15,000	-3.3%	1,844	-9.8%	12.3%	102,740	London Market
6 0	The Towergate Partnershipb, d	357,500	-3.9%	140,800	-9.9%	39.4%	929,778	Commercial
23 2	CCVb, d	59,682	-2.2%	19,743	-10.3%	33.1%	108,710	Commercial
30 0	Brightside (Group Direct)	44,700	34.7%	6,665	-11.1%	14.9%	791,150	Commercial
44 NaN	Hendersond	19,000	22.5%	1,875	-11.7%	9.9%	68,841	Commercial
25 4	Endsleigh Insurance Services	62,763	-3.4%	16,264	-13.0%	25.9%	68,519	Personal
3 0	Willisa	536,875	16.4%	89,558	-18.1%	16.7%	155,887	London Market
40 2	Carole Nashd	24,215	-2.9%	7,081	-19.0%	29.2%	843,728	Personal
31 0	RFIB Group	38,313	16.3%	4,439	-20.5%	11.6%	121,629	London Market
19 0	Endsleigh Insurance Services	65,532	-1.8%	5,529	-22.1%	8.4%	55,536	Personal
37 1	Besso Holdings	27,946	-10.4%	1,867	-25.8%	6.7%	130,589	London Market
37 5	Towers Watson Reinsurance	30,256	-2.8%	2,420	-36.2%	8.0%	170,937	London Market
34 1	United Insurance Brokersd	36,097	8.3%	2,058	-54.6%	5.7%	112,452	London Market
2 1	Aona	670,822	-2.3%	41,063	-68.5%	6.1%	123,336	London Market
27 2	BMS Associates	46,924	10.1%	89	-94.2%	0.2%	175,745	London Market
26 2	Hastings Insurance Services	47,845	-0.3%	-927	-94.3%	-1.9%	659,022	Personal
10 0	Bluefine	140,000	3.7%	-1,945	-105.6%	n/a	82,353	Commercial
20 2	Jelf	65,448	12.1%	-4,060	-141.8%	-6.2%	582,796	Commercial
20 0	Jelf	70,371	7.5%	8,693	-314.1%	12.4%	69,331	Commercial
39 1	Newman Martin & Buchan	25,529	10.9%	3,254	-374.4%	12.7%	141,827	London Market
39 3	Kerry London	24,146	7.7%	2,197	-938.5%	9.1%	83,262	Commercial
12 0	Locktond	100,991	-7.0%	2,755	-971.8%	2.7%	119,516	London Market
43 0	Firstcity Partnership	19,442	-6.4%	-1,047	-1595.7%	-5.4%	114,365	London Market

a - Figures extracted from US SEC Form 10K for UK business
b - Annualised figures to reflect material acquisitions in current financial year
c - Figures extracted from group consolidated accounts
d - Management provided information
e - Annualised for changed year end
f - Excludes employee benefits business
g - Estimate based on prior year and acquisitions

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London Market

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Brokerage
(£ 000s)
Brokerage change
EBITDA
(£ 000s)
EBITDA change
EBITDA margin
Turnover per employee (£)

2009

2010

2011

The data used reflects the latest available full-year information as of June in that year.