Ipswich insurance brokers Woodward Markwell celebrates strong first half
- Credit: Matt Woods
An Ipswich chartered insurance brokers says it has performed strongly in the first half of 2017.
Woodward Markwell, which employs 43 staff in the town, saw sales revenue grow by 14% and its profit ratio continue to increase.
The firm, which has two divisions dealing with insurance broking and financial services respectively, said it continued to gain high volumes of business through referral and recommendation, with conversion rates of more than 87%.
Woodward Markwell Financial Services division revenue is up by 28% year on year across both the employee benefit and wealth management sectors as both divisions continue to win new clients.
Davina Olson, manager of the financial services division, said: “The results for the first half of the year are extremely encouraging.
“Our financial advisers and all the supporting staff work incredibly hard.”
Managing director Andrew Johnson said: “We invest in our staff and continue to add to our already very strong team, with employees whose knowledge and qualifications mirror the high standards of the business.
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“Our focus remains on the needs of our clients and exceptional service standards, which I believe bears testament to the results and progress we continue to make.
“Further expansion is anticipated, not just organically but as we talk to like-minded professionals who have expressed an interest in joining the team. We look forward to reporting equally pleasing results in our year-end figures.”