Fast growing Principal Insurance are looking healthy, as acquisitions help top boost profits. More to come, who knows?
Principal Insurance saw post-tax profits surge by 16.5% to £812,113 (£697,137) for its 2024-25 financial year (ended 31 October 2025).
The specialist broking group also recorded a 15% rise in EBITDA to £710,000 (£617,000), with turnover rising 4.4% to just under £7m (£6,952,365).
The figures exclude earnings from the acquisition of Lancaster-based Peart Performance Marque Limited from administration, a deal which completed on the final day of the group’s financial year.
Since then Manchester-headquartered Principal has also acquired Europa Group, the Bristol-based broker best known for its long-established MotorCycle Direct brand. That transaction also included Europa Underwriting which trades under the Ridersure wholesale brand.
Commenting on the results managing director Dave Bowcock commented: “The figures for our last financial year are more than satisfactory, driven by growth across our portfolio, but with our motorhome and fleet segments performing particularly strongly.
“However, recent acquisitions, most notably that of Europa Group, are set to drive much more significant growth as we further increase our share of the motorcycle insurance market and benefit from the synergies of integration.”
Financed exclusively through shareholder funds, the Europa deal means Principal deal now serves more than 125,000 policyholders and generates over £60 million in annual gross written premium.
It has also seen the group claim a place among the UK’s top five motorcycle insurance brokers. It predicts it will secure similar placings in the motorhome and courier insurance ranking by the end of its 26-27 financial year.
The group has also signalled its appetite for further acquisitions. “Not only are we hungry to finalise more deals, we have the funds ready and waiting to support a targeted buy and build strategy,” confirmed Bowcock.
Founded by Bowcock as a specialist motorcycle insurance broker in 2011, Principal has since diversified to embrace a range of specialist segments within the personal and commercial insurance sectors.
The group now employs around 120 staff at its headquarters in Sale, Manchester and offices in Bradley Stoke, Bristol.
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