Clark Thomson eyes further acquisitions as it posts “excellent results”

Perth-based insurance broker Clark Thomson has reported “excellent results” in a year in which it consolidated its position as the industry’s largest independent Scottish player.

Figures for the year to March 31 showed turnover rose by 14.2 per cent to £9.63 million and pre-tax profit soared 58.6 per cent to £1.74m.

The pre-tax profit as a percentage of sales rose from 13 per cent to 20 per cent during a period which covered the firm’s seven-figure takeover of the Willis Group’s Scottish commercial business unit.

That transaction involved the Willis office in Broughty Ferry and a smaller office in Glasgow, with 24 staff being relocated to Clark Thomson’s Dundee office.

The takeover increased Clark Thomson’s footprint to 11 offices from the central belt to the Highlands and its workforce to around 200.

It also increased the firm’s insurance premium annual throughput to more than £60m.

Now in its 50th year, Clark Thomson was the first Scottish insurance broker to achieve chartered status and was the commercial lines winner in the UK Broker Awards for 2015.

Managing director Ben Bailey said the company, with headquarters in Whitefriars Street, Perth, has seen a significant increase in new business driven by organic growth supported by acquisition growth.

New income streams from existing business was another factor, and indications for the forthcoming year are very encouraging.

Clark Thomson would continue to consolidate its position, he stated, and concentrate on achieving maximum growth.

It would continue to invest in the business, particularly in its staff, and seek further acquisitions.

Mr Bailey added: “The insurance broking industry is highly competitive, particularly with the expansion in recent years of the availability of insurance offerings over the internet.”