Bedford Insurance Broker Secures Funding Boost

The latest update from M&DH Insurance Services

A Bedford-based insurance broker that manages thousands of policies for businesses across the UK is expanding its headquarters and creating new career opportunities after securing a substantial investment loan from Allica Bank.

Founded in 2002 by Richard Hames, M&DH Insurance Services is an independent insurance broker providing specialist cover to both corporate and individual customers, particularly within the construction and manufacturing sectors. The Home Counties business currently provides insurance cover for more than 4,500 clients, managing over 12,000 policies, and is ranked among the Top 100 Independent Brokers in the UK.

Now in its 24th year of trading, the business has secured funding from challenger business bank Allica Bank to support its next phase of growth – including expanding its Bedford headquarters, investing in technology and creating numerous new roles across the business.

M&DH projects income from premiums to exceed £30 million over the next 12 months. Richard said his team will focus on sustainable growth, alongside growing relationships with its existing customers. The business reports a retention rate of more than 93%, with 40% of customers staying for over a decade.

M&DH currently employs more than 75 people – including an IT hub in Macedonia – and operates from a former school building in Bedford, the very school once attended by founder Richard. Having already expanded across much of the site, the firm is using the finance from Allica Bank to support a move into the former school gym, creating additional space for growing teams and its in-house training academy – M&DH Academy.

Launched in 2015, the academy provides structured training and career pathways for graduates and those new to the world of insurance. More than 60% of staff, including directors, have progressed through the academy, helping the business retain talent locally while building long-term expertise.

The business is also deeply embedded in the Bedford community, the M&DH Board are proud to sponsor grassroots football teams, local schools and support food banks in the area.

Founder and CEO of M&DH, Richard Hames, said: “Coming back to my old school and building a growing business here feels incredibly special. The funding from Allica Bank allows us to invest in our space, our systems and, most importantly, our people – so we can keep growing in Bedford while delivering the high level of service our clients rely on.”

Wahid Nawaz, Allica Bank’s Relationship Manager based down the road in Luton, added: “M&DH is a standout example of a growth-focused business with strong local roots. As they expand nationally while staying true to Bedford, their commitment to developing people is clear – and it’s exactly the kind of ambition we’re proud to support. Having grown up locally myself, it’s especially rewarding to work with Richard and the team and see first-hand just how passionate they are about our community.”