News: Strong 2021 performance and plans for growth in 2022.

Our Strong 2021 results and Aston Lark Glasgow Integration

15 February 2022

Bruce Stevenson is “actively speaking” to a number of peers about potential acquisitions after reporting stronger full-year numbers.

Our revenue and gross written premium (GWP) increases of 7 per cent, with trading income up by £600,000 to £8.7 million, and GWP at £44m. We are also in talks to take on senior-level recruits and hopes for more in the coming year, adding to an existing headcount of 110.

Chief executive Edward Bruce said:

“Our new ownership at Aston Lark gives us more firepower to drive growth by acquisition over the next 12 months and beyond."

Critically, our client-focused and staff-development culture remain unchanged. The continued growth of the business has enabled us to make some exciting promotions from within the business with more anticipated in the coming months.”

We are pleased to report strong organic growth, in what was a challenging year with difficult trading conditions for the business and the industry overall.”

Renewable energy and social housing represent our largest sectors, while Scotland’s food and drink industry is a high growth market in which whisky distilleries have represented one of the business’s fastest-growing sub-sectors, alongside self-catering accommodation. Commercial work, property, private clients, art and farming and estates also remain key sectors.

Last month, Aston Lark’s Glasgow office merged with Bruce Stevenson’s Glasgow team - with a dozen staff moving over to the latter. The Aston Lark Glasgow office recorded approximately £5m of GWP and £1m of income in 2021.

On the occasion of our last bolt-on deal, in 2018, we strengthened our offering in Aberdeen and the north-east with the acquisition of Turriff-based Youngson Insurance Consultants.

Peter Blanc, Aston Lark group chief executive, said:

“I’m delighted to see the progress that Bruce Stevenson has made despite challenging market conditions and we are excited by the further growth opportunities that they have, both organically in their specialisms but also as they seek to acquire like minded-brokers in the Scottish market.

Edward Bruce and his team will build a broker that is the standout leader in Scotland and we’ll do everything we can to support them every step of the way.”

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