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Managing General Agent With A Remote Team, Coventry
Coventry, West Midlands, West MidlandsIdentity protected
Available
About this business
A Coventry managing general agent with 84 staff, underwriting specialist commercial lines for insurers and distributing through independent brokers. It has traded since 2015 and runs without premises, with underwriting, claims and broker support teams working remotely. Turnover has edged up to £10.5m, but adjusted EBITDA peaked at £3.36m in 2023 and has fallen since to £2.79m as costs have grown faster than income. The margin is still about 27%. A buyer gets scale and a wide spread of introducing brokers, along with the job of bringing costs back in line.
Key investment highlights
- Turnover of £10.5m with 84 staff
- Adjusted EBITDA of £2.79m last year
- Fully remote: no lease or premises costs
- Trading since 2015
Reason for sale
The parent group is selling the agency as it narrows its focus to its own insurance carrier.
Nothing flagged on the two questions buyers ask first
No flagRevenue going backwards and one client being too much of it are the two things that end most deals in due diligence. Both are shown here up front, from the figures the seller supplied.
- Revenue directionNo flag
Turnover is flat year on year.
- 2021: baseline
- 2022 (+1.2%)
- 2023 (+3.1%)
- 2024 (-0.8%)
- 2025 (+3.5%)
- 2026 (+0.3%)
6 years of turnover, 2021 to 2026, as supplied by the seller.
- Client concentrationNot stated
The seller has not declared what share of revenue the largest clients represent.
No declaration supplied. Client concentration cannot be derived from accounts.
EBITDA margin narrowed from 33.0% in 2021 to 26.6% in 2026.
These are observations from the supplied figures, not a view on whether this business is worth buying. Nothing here predicts an outcome.
Computing valuation...
What happens next
Submit an enquiry to the seller. Once they approve it, you sign a non-disclosure agreement and gain access to the information memorandum, the financials and a secure deal room with the seller.