Glasgow based insurance firm Kelvin Smith has announced it is on course for a “record” turnover of £15m.
The insurance firm was founded in November 1982 and has since established itself as one of Scotland’s leading insurance brokers.
It was set up by financial advisors Gordon Smith and Andy McGlennan as a financial services business and estate agency, car and home insurance broker.
It then decided to focus on commercial insurance for the hospitality, construction and property sector.
The firm’s managing director, Stephen Travers, joined the firm as an employee in 1983 before becoming a partner in 1990, and then taking over the business in 1995.
Since then, Kelvin Smith has seen its annual income increase 900% from £1.5m to £15m - growing in the last decade by £1m per year.
The firm claims to maintains one of the highest renewal retention rates of clients of any insurance broker in the UK at 96%.
Kelvin Smith now has a team of 40 employees including a separate team of Financial Conduct Authority authorised professionals offering premium health and life insurance, pensions and a positive working environment.
Stephen Travers, managing director at Kelvin Smith, said: “The industry is so much more competitive than when I got into it. There’s an oversupply of brokers in Glasgow but we’ve survived and prospered because we get the information and advice right.
“Policyholders having the right arrangement and right depth of disclosures in place is vital. We are very diligent to do everything we can to ensure all disclosures are fully factual. When it comes to big claims, insurers are forensic – so we need to be forensic from day one to protect our clients from being caught out in the event of a claim.”
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