CBC UK Limited, Mansell Court, 69 Mansell Street, London, E1 8AN.
Registered in England under Company No. 1973536. Registered Office: 8-11 Crescent, London, EC3N 2LY.
Authorised and regulated by the Financial Conduct Authority, Firm Ref No 145164
The independent Lloyd's Insurance Broker, CBC UK Limited ("CBC"), which offers a wide range of insurance services to commercial and personal clients as well as broking solutions to retail intermediaries, today announces strong growth figures for the 2017 financial year.
CBC are pleased to report unaudited revenues of £5.5m and Earnings Before Interest Tax, Depreciation and Amortisation ("EBITDA") of £836,000 for the year-ended 31st December 2017, an increase of £648,000 on their 2016 EBITDA of £188,000.
Following their 2017 MBO backed by venture capital investor B. P. Marsh & Partners Plc ("BP Marsh"), CBC has achieved an unaudited profit before tax of £767,000, an increase of £763,000 on their 2016 profit before tax of £4,000.
CBC Chairman Andrew Wallas has commented:
"We are very pleased with the progress that has been made as we approach the first anniversary of our Management Buy Out. We have created a strong platform from which to build. Our absolute priority is to acquire additional quality people with intellectual capital to support the continuing growth of our business."
Established in 1985, CBC is a Retail and Wholesale Lloyd’s Insurance Broker, offering a wide range of insurance services to commercial and personal clients as well as broking solutions to retail intermediaries. CBC is privately owned and managed by the Directors and advises on all manner of insurance products and services, including commercial, professional and personal risks.
In 2017, CBC completed it’s MBO financed by BP Marsh & Partners plc, with City veteran, Andrew Wallas appointed as Chairman. This was produced with the desire of the Management Team to grow the business via acquisitions, team lifts and hires.