Momentum Broker Solutions has reported its financial results for the year ended Dec. 31, 2024, marking its 14th consecutive year of growth.
Gross written premium exceeded £97 million, reflecting a 21% increase from the previous year. Total revenue rose to £18.43 million, with net revenue reaching £7.24 million. Operating profit grew by 40%, supported by a one-off bonus payment of nearly £1 million, which was distributed among staff in recognition of their contributions.
The company also expanded its network, welcoming its 100th appointed representative. Fourteen new broker partners joined during the year, further strengthening its position in the independent broker market. The team also grew, with 17 additional colleagues recruited to support business growth and client services.
Managing director Howard Pepper (pictured right) credited the company’s progress to its focus on partnerships and its ability to navigate market challenges.
“Our 2024 results are a testament to the strong partnerships we have built with our insurer and broker partners, and our colleagues,” he said. “We have achieved steady progress through a shared commitment to excellence and innovation while also remaining mindful of the market’s challenges.”
In 2024, the company received a 40% investment from AUB, an international insurance intermediary group. The investment provides Momentum with access to additional expertise, technology, and resources to enhance partner growth and retention while maintaining its independence.
In addition to financial growth, the company also continued investing in its service offering. Over the past year, Momentum said it has focused on improving operational efficiencies, enhancing broker support and strengthening its relationships with insurers to ensure competitive solutions for its partners. The company has also expanded its digital capabilities, streamlining processes to better serve brokers and clients.
Looking ahead, Momentum said it plans to continue investing in technology and talent to support long-term growth. Its strategy for 2025 includes further strengthening broker relationships, enhancing digital capabilities and remaining responsive to market changes.
By prioritising innovation and collaboration, the company said it aims to reinforce its position in the independent broker sector while continuing to provide value to partners and clients.
