Broadway Insurance Brokers has cemented its place as one of the most dynamic names in the UK’s insurance industry by being named in two of the country’s most prestigious professional rankings.
Chief Executive Daniel Lloyd-John has become the only broker outside London to feature in the latest classification of leading advisors to high net worth clients compiled by Spear’s magazine.
In addition, Broadway is the sole company from the north of England included in a list of the Five-Star Brokers published by Insurance Business magazine.
Mr Lloyd-John has described the rankings as a testament to the commitment made by both Broadway’s Private Clients and Corporate teams to the highest standards of client service.
“The last year has seen further tremendous growth in the number of business and individual clients with whom we deal and the assets which we manage on their behalf.
“However, being identified as one of the UK’s best brokerages shows that we are clearly doing something right.
“I believe the key is in remaining faithful to the principles which we put in place when we launched.
“Consistency is perhaps the most important thing demanded of brokers by clients. They want to know that your own growth won’t impact your ability to deliver support when and how they need it.
“It is also important when it comes to attracting the kind of talented individuals who have joined us.
“Those who have come aboard not only know that their skills and experience will be valued by colleagues but able to make a huge difference to clients.
“We’re all immensely proud and excited about what has been achieved so far and what lies ahead.”
Mr Lloyd-John’s comments follow Broadway’s being one of only 14 risk management firms from across the country named as one of Insurance Business’s Five-Star Brokers.
The latest ranking considered the performance of candidates during both 2021 and 2022.
Rather than being based purely on overall size by number of employees or turnover, judges drew up their final list based on “business per broker” which, they outlined, “ensures that the very best brokerages are singled out”.
In retaining his place in the Spear’s 500 classification, Mr Lloyd-John was one of only four insurance brokers included among what the publication says are the UK’s best advisers to high net worth clients and the only individual based outside London.
The Spear’s list is based on a series of peer nominations and client feedback as well as information gathered by the magazine’s editorial and research teams.
Spear’s concluded that Broadway’s inclusion was justified by its “personal, high-touch service”.
The firm’s brace of listing successes comes amid a period of further growth.
It appointed Gary Ward as its new Director of Operations, Internal Audit, Risk and Compliance last month, shortly after it revealed that the value of assets for which it arranges cover had doubled to more than £2 billion in the space of less than 12 months.
Mr Lloyd-John said that Mr Ward had considerably strengthened Broadway’s senior team, which also comprises Director of Private Clients Eleanor Moore and Martin Lilley, its Director of Corporate Clients.
In addition to doubling the value of corporate and private assets under cover in the last year, and growing its client book by a similar proportion, the firm is on course to generate more than £10 million in Gross Written Premiums (GWPs) during this financial year, confirming it as the largest high net worth insurance specialist outside of London.
Mr Lloyd-John has indicated that an “evolution” in business clients, with a marked increase in the number of larger corporate and international companies to which Broadway now advises.
Many of those corporate clients are companies in a diverse range of sectors and turning over in excess of £250 million.
In March this year, Broadway’s Director of Private Clients, Eleanor Moore, was included on a list compiled by Insurance Business magazine of 61 “elite women” working in UK insurance.
The classification was described as a tribute to the “excellence and tenacity” shown by the individuals named and is made up of some of the domestic industry’s best-known insurance executives.
Weeks later, Broadway collected the Commercial Lines Specialist Broker of the Year title, one of 29 different categories at the National Insurance Awards honouring those showing “preeminence in their field”.