Lycetts Posts Impressive 2022 Results

Leading insurance broker and independent financial adviser Lycetts has seen turnover and operating profits continue to soar, despite a challenging market and volatile economy. Turnover for the year rose by £2m to £25.5m, up from £23.5m in 2021. Pre-tax profit meanwhile increased by 11 per cent year-on-year, from £2.7m to £3m

“We are delighted by Lycetts’ impressive performance in 2022, underpinned by a robust business strategy and high-quality talent,” said Charles Foster, Lycetts CEO. “Exceeding an 11 per cent target for new business, along with a high retention rate for existing clients, proved central to our success. Despite the hard market, notable gains were achieved across household and commercial lines.”

The Newcastle-based company remains committed to accelerated growth through organic initiatives and strategic acquisitions. This included the purchase of G.D. Anderson and Co in Northamptonshire to help expand its reach in a previously underserviced area of the country.

Foster added: “The scope for further growth continues as we eye an exciting future from our new headquarters at the landmark Bank House development in Newcastle.”

About alastair walker 12131 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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