POST ONLINE: QuestGates reveals growth plans after joining vrs

7th November 2018
This article has been reproduced

QuestGates has revealed it will hit revenue of £22m next year as it joins VRS Adjusters.

QuestGates managing director Chris Hall said the firm will be able to take on international property business as a result of joining the loss adjuster networking.

The company is expecting an 18% revenue growth in its 2018 results, partly buoyed by joining the network.

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.”