Romero Insurance Brokers
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Romero Insurance Brokers is one of the UK's largest independent insurance broker groups, specialising in commercial insurance across a number of sectors including construction, engineering, retail, leisure, hospitality and sports and social clubs.
The business operates nationally, with more than 200 staff based at offices in Leeds, Manchester, London, Nottingham, Halifax, Harrogate and Stockton.
As of 2022[update], the business as a Gross Written Premium (GWP) of over £110 million and a turnover of £17.4 million and an operating income of £6.1 million[1][2] and has won multiple industry awards.[3]
The business is headquartered in its own building located by Leeds Bradford Airport.
History[edit]
The business was started in 1997 by Justin Romero-Trigo, in a single room above a shop in Horsforth, a suburb of Leeds, after a previous four years working for other insurance brokers across Yorkshire. Romero-Trigo started a career in insurance after being offered a place to study economics at the University of Leeds.
The business was started using a £5,000 bank loan claimed to be needed for kitchen renovations, which was subsequently used to set up the offices above a betting shop. Romero Insurance Brokers only had three or four agency agreements with insurers in the late 1990s, with the majority of business being built on a relationship with Cornhill.
Within two years of starting the business, the Gross Written Premium (GWP) had grown to £1 million, which has since grown to £110 million in the last financial year (ending April 2022), alongside a turnover of £17.4 million and EBITDA of £6.1 million.
The group expanded its offering in 1998, setting up a subsidiary (Club Insure & NDML) to offer specialist service to the leisure, hospitality and sports & social clubs.
In 2020, recognising the need to invest in talent, the group set up an internal training academy,[4] offering on the job and academic training to employees, alongside implementing a graduate scheme. This has resulted in an intake of at least 10 graduates since the launch of the scheme which continues to train and upskill individuals to the present day.
In 2021, the group signed Kevin Sinfield OBE as its ambassador.[5]
In November 2021, the group was named in the Insurance Age Top 100 UK Brokers in the £100 million to £199.99 million category[6]
Since its founding, the group has since opened seven offices, the most recent of which in the neighbouring town to its Leeds head office, in Harrogate. The opening of the seventh office[7] followed a year of sustained business growth[8] despite the impact of the COVID-19 pandemic, and was opened by ex rugby league player and Romero Insurance Broker spokesperson, Kevin Sinfield OBE.
In 2021, Romero-Trigo was named Entrepreneur of the Month by Business Insider,[9] recognising his determination and the group's rapid growth.
The group currently operates with no external debt or investment[10] and plans to continue in this way, with ambitions to be the United Kingdom's largest independent insurance broking group.
Awards[edit]
Romero Insurance Brokers has been named Independent Insurance Broker of the Year, at the Insurance Times Awards three times, in 2011,[11] 2019[12] and 2020[13]
The group won an award for Excellence in Professional Development at the 2021 Insurance Times Awards[14] recognising the work of the Romero Academy.
References[edit]
- ↑ Ruel, Clare (2022-02-08). "Romero Group grows income by 14.3% in 2021 despite hard market". Insurance Times. Retrieved 2022-06-06.
- ↑ Media, Insider. "Year of growth for Romero Insurance Brokers". Insider Media Ltd. Retrieved 2022-06-06.
- ↑ Ruel, Clare (2021-12-10). "Revealed: Which firms came out on top at 2021's Insurance Times Awards?". Insurance Times. Retrieved 2022-06-06.
- ↑ Ruel, Clare (2021-02-02). "Romero Group to post strong growth despite Covid pressures". Insurance Times. Retrieved 2022-06-06.
- ↑ Ruel, Clare (2021-08-24). "Rugby legend opens Romero Insurance Brokers' seventh UK office". Insurance Times. Retrieved 2022-06-06.
- ↑ "Top 100 Brokers 2021: Directory – £100m to £199.99m". Insurance Age. 2021-11-09. Retrieved 2022-06-06.
- ↑ Ruel, Clare (2021-08-24). "Rugby legend opens Romero Insurance Brokers' seventh UK office". Insurance Times. Retrieved 2022-06-06.
- ↑ Media, Insider. "Insurance brokerage opens Harrogate office". Insider Media Ltd. Retrieved 2022-06-06.
- ↑ leech, ian (2021-04-01). "Service Is The Best Policy". flickread.com. Retrieved 2022-06-06.
- ↑ Ruel, Clare (2019-01-31). "Romero Group reveals strong "organic" growth". Insurance Times. Retrieved 2022-06-06.
- ↑ Walkinshaw, Danny (2011-12-06). "Insurance Times Awards 2011: winners revealed". Insurance Times. Retrieved 2022-06-06.
- ↑ Ruel, Clare; Guerry, Yannick; Scott, Katie (2019-11-25). "Revealed: Insurance Times Awards 2019 – winners and reaction". Insurance Times. Retrieved 2022-06-06.
- ↑ Ruel, Clare (2020-12-10). "Revealed: Insurance Times Awards 2020 – winners and reaction". Insurance Times. Retrieved 2022-06-06.
- ↑ "Congratulations to the 2021 Winners". Insurance Times Awards 2021. Retrieved 2022-06-06.
External links[edit]
- Official Website
- Sister Company Official Website - NDML
- Sister Company Official Website - Club Insure
- Sub-division - Sports & Leisure
- Sub-division - Risk Management
- Sub-division - Private Clients / High Net Worth
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