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Gloucestershire Business News

Turnover grows to £80 million and staff numbers rise

An insurance and risk management firm with a major base in Cheltenham has revealed strong growth in revenues.

Turnover at THB Group Ltd was £80 million at the end of December 31, 2018, up from £72 million in 2017, with operating profits of £13 million - up from £9 million over the same period.

"Revenue at the firm has grown organically, benefiting in part from business flows delivered by being part of the AmWINS group of companies.

"With AmWINS support THB continues to expand through recruitment of highly professional staff," said Kay Smith, group CFO of London headquartered THB Group.

"THB remains an exciting place for insurance professionals to find both challenge and reward and is committed to ongoing development of its staff through its learning and development programmes."

As for Brexit, the business said it had "addressed the challenge of the UK's proposed departure from the EU and has taken steps to ensure that it can continue to service its THB Ltd European-based clients through a new THB Ltd subsidiary based in Amsterdam.

"The impact of Brexit on the company is anticipated to be minimal."

THB has offices overseas including in South America, the Netherlands, South Korea, London and Miami.

Its Cheltenham operation is home to many of the teams that support the global broking operations of THB.

The firm has invested heavily in its spa town operation in recent times, including a move to brand new offices in the Brewery Quarter accommodating more than 100 employees with room for further planned expansion.

The Bewery picture credit: Imagery ©2018 Google maps, Map data ©2018 Google

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