The latest set of results from Alps;
Alps, a leading MGA specialising in insurance add-on policies, legal expenses, and claims solutions for intermediaries, has announced its latest results with a 13% increase in EBITDA in the last 12 months to March. It has had an excellent start to the new financial year – first-quarter trading has significantly outperformed the prior year.
Growth has been supported by the continued expansion of its broker network, strengthening relationships with distribution partners and broadening its product range. Alps has its sights firmly set on becoming the UK’s leading add-on provider and is on track to hit £13m GWP by 2028.
Founded on the principle of doing the right thing, Alps’s differentiated market proposition is straightforward, combining market-leading capacity and service relationships, no minimum volumes, no exclusivity or tie-ins, and an award-winning in-house group legal practice – unifying trading and claims for a faster response and better customer outcomes. Central to its current success and future growth strategy is also its investment in technology and responsive product development.
In the last 12 months, Alps has launched or enhanced 12 innovative add-on policies, addressing broker demands from emerging customer needs. These include Rent Guarantee and Landlord Pet insurance in response to the Renters’ Rights Act, a wide range of GAP products, and innovative pothole damage cover – all of which have been incredibly well received by the market. Alps’s broker retention now sits at 90% with 63% of brokers selling more add-ons than they did last year. Its investment in a strong technology infrastructure has powered its rapid product innovation programme.
Speaking about the results, Michelle O’Reilly, Managing Director at Alps, commented: “We’re delighted with these results. We’ve set ourselves apart from the competition by delivering a programme of rapid and innovative product development, backed by strong capacity relationships and a level of service unrivalled in the market. Brokers need fast access to relevant products that help them generate income and retain customers. 1000+ brokers trust us because we achieve this – combining specialist underwriting, legal, and claims expertise to make their lives easier and help them to differentiate. The growth we’re targeting isn’t just about numbers; it’s about building a proposition that makes a genuine difference when it matters to brokers and the policyholders they serve.”
Alps offers a broad suite of add-on covers including sole trader, commercial, landlord and family legal expenses; motor-related add-ons, including excess protect, tools in transit, vehicle replacement, road rescue; and property-related add-ons, including landlord excess protect and home emergency, key cover and second property legal expenses. The capacity for its products comes from a growing panel of highly capitalised insurers, and it operates a number of delegated authority arrangements, allowing it to offer brokers a fast and efficient service.
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