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Broker sees 25% rise in activity

Bruce Stevenson expansion follows surge in business

Edward Bruce and Andrew AdamBruce Stevenson Insurance Brokers is expanding its presence in Glasgow after a surge in business. The company’s gross written premiums soared by 25% to £25 million in the year to 31 August.

Income rose from £4.5m to £5.5m, with the surplus reinvested to fuel further growth. Headcount is up by 19% to 88. 

The firm is moving from New City Road, Glasgow to 144 West George Street. Operations in the city will continue to be run by commercial director Andrew Adam and renewable energy director Derek Skinner.

Expanding in Glasgow comes after the broker opened an office in Galashiels this year. The firm, which is the second largest independent insurance broker in Scotland and the largest in Edinburgh, also has offices in Aberdeen and London.

Edward Bruce, chief executive, said: “Moving into larger offices in Glasgow is a great start to our new financial year and will give us room for further growth.

“We’re in year three of our five-year plan and we’re growing ahead of our target. This growth has been organic rather than coming through acquisitions.”

Bruce Stevenson’s work for private clients includes arranging more than 6,000 policies each year, as well as offering professional advice on assets such as fine art and antiques, classic cars and property.

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