INSURANCE POST: QuestGates reveals growth plans after joining VRS
Hall said: “When insurers have policyholders that have properties outside the UK we had no UK coverage. So if you take the big real estate brokers you tend to find out that these companies own property not just in the UK but in Europe and potentially in the US. We haven’t been able to do that kind of work in the past.
“Now we are part of the VRS organisation that means we have access to coverage all over the globe they have representation pretty much every country around the world. So it’s a fairly dramatic development for us from the point of view of being able to service that work.”
The company saw turnover of £18.6m in 2017, a 16% rise from the £16m the previous year. However, Hall said he expects revenue to shoot to £22m in the financial year ended June 2019, an 18% rise.
He added: “As a business, we will turnover about £22m this year. If you look at our past rate we have grown 10-15% a year and I see no reason why we shouldn’t be able to continue that. Having said that, we are a private company so we are much more focused on business that is consistent on strategy than turnover.”
The firm acts for insurers like Aviva, Allianz and AXA, and other brokers like Willis and Aon. Hall said part of the reason QuestGates was selected was due to its emphasis on specialist lines.
Hall added: “If you look at the likes of Davies, Sedgwick, and Crawford they handle high volume household accounts whereas we focus on commercial and specialist. That tends to be global and specialist.”