A FAST-GROWING insurance broker has increased the size of its Yorkshire operation as part of a strategy to become one of the top brokers in the region.
Lorica Insurance Brokers has moved to larger offices in Leeds and revealed that it is hiring more staff in Yorkshire.
A company spokesman said the move will enable the business to achieve further growth in the Yorkshire area.
Branch director Darren Paterson described the move into the larger offices at Wellington Place as a “statement of intent of our ambitious expansion plans”.
Mr Paterson said Lorica, which provides a wide range of insurance broking services to businesses and private clients across the UK, had identified Leeds as a “key target location”.
Lorica established a base in Wellington Place last year.
A company spokesman said Lorica’s Leeds operation had now moved to a bigger suite at Wellington Place because the company’s Yorkshire operation had got off to a strong start.
The spokesman added: “The modern space reflects the company’s culture and will help the business work towards its objective of becoming one of the leading brokers in the region.”
Mr Paterson said: “Lorica’s business model is different in that our success is strongly focused on talent.
“We look to recruit successful and experienced brokers and give them the support they need to prosper.
“We believe it’s essential to provide the best possible working environment for our staff, and the larger space will comfortably accommodate our growing team.”
Lorica has around six staff based in Leeds, and that number is expected to increase to eight by the end of March.
Apart from the existing team, Mark Thomas has joined the business as commercial account executive, from Towergate. Darron Brady has joined as account director and Gwyn Evans has been hired as an account executive. Both Mr Brady and Mr Evans have joined from Romero.
Commenting on current market conditions, Mr Paterson said: “Many businesses are reviewing their bottom line costs, including their insurance provision.
“At Lorica Insurance Brokers our teams of professionals work with our clients to design affordable insurance programmes without needing to compromise on cover.”
Lorica, which has its head office in Hemel Hempstead in Hertforshire, is a top 50 UK insurance broker. The business offers general commercial insurance. It also specialises in the key areas of leisure, technology, management liability, financial institutions, property owners, high net worth and listed properties.
The company employs more than 130 staff in seven locations across England.
The business has a number of regional offices; including Indian Queens, Cornwall; Lime Street, London; Preston, in Lancashire; Birmingham; Leeds and Reading in Berkshire.
According to accounts filed at Companies House, the company’s turnover was £8.1m in the year ended March 31, 2012. At the time, the business had just five branches.