Tyser & Co Ltd (“Tysers”) is a leading Lloyd’s broker, which operates internationally in four practice groups: Non-Marine, International and Marine & Specialty. It is the principal subsidiary of Hawkes Bay Holdings Ltd (“HBH”), a privately-owned group, which also has ownership in the Aquila underwriting agency business.

RESULTS HIGHLIGHTS

  • Significant progress at a time when rates were falling in all major classes of business
  • Restructuring of broking divisions has continued to yield benefits
  • Revenues increased by 6.7% to £41.26m (2013: £38.70m)
  • EBITDA up by 20% to £8.20m (2013: £6.81m)
  • EBITDA margin improved to 20% (2013: 18%)
  • Increase in profit before taxation of 21.6% to £8.0m (2013: £6.41m)
  • Net assets at year end of £13.8m (2013: £10.9m)
  • Total HBH revenues (Tysers + Aquila) up 13.8% at £47.7m (2013: £41.9m)

Chris Elliott, Tysers’ Chief Executive Officer, comments:

“These encouraging results reflect the diversity of our business, its global reach and the unstinting efforts we make to build and maintain strong and long-standing client relationships.

“They also reflect our efforts to achieve operating efficiencies, while ensuring that the benefits we offer make us an employer of choice in the insurance industry.

“The current year has started well, with first half revenues growing in all segments of our diverse business, and we look forward to reporting on another period of increasing turnover and profits.”

Follow this link to the Tyser & Co Report & Financial Statements for the Year ended 31 December 2014