An award-winning, Sheffield-based insurance brokerage firm is planning to win new business and invest in recruitment after completing a six-figure refinancing deal with Yorkshire Bank.
The Burley Group, which has a current turnover of £2.2m, has worked with Yorkshire Bank for three years and recently chose to move its full banking to the firm. With the new relationship, The Burley Group plans to continue its business drive via organic growth combined with the recruitment of more appointed representatives.
Steve Burley, owner and director of The Burley Group, manages the third generation family business which was established by his grandfather, Joseph Burley, in 1953. Steve looks after the day-to-day running of the independent financial advisors part of the business. Matthew Mawson, co-owner and managing director, is responsible for the commercial insurance brokerage aspect of the firm.
The business’ head office is in Sheffield and it employs 37 staff over five locations throughout the UK which also includes Glasgow, Aberdeen, Essex and Ireland. It specialises in providing insurance and advice to a wide range of sectors particularly haulage, warehousing, supply chain businesses and construction.
Steve Burley said: “Our previous bank, a business that had specialist knowledge of insurance brokers, recently left the UK and we were concerned about finding a new supplier that would have knowledge of our sector.”
“We discovered Yorkshire Bank has a wealth of experience working with businesses like ours and the team had a great understanding of what we do, so it was a perfect fit.”
The Burley Group was recently recognised by trade industry magazine Insurance Times, winning its 2014 Excellence in Motor Broking Award. The firm was up against major national and online firms, emerging as the underdog in the competition due to its smaller size.
With the new banking relationship, which was arranged by Lynsey Smith, relationship manager at Yorkshire Bank, the business plans to focus on growth by continuing to providing the high–quality, niche service for which it has developed a reputation.
Paul Hambrook, head of insurance sector at Clydesdale and Yorkshire Bank, said: “We are delighted to announce that our relationship with The Burley Group has evolved and we will now play a key role in managing the firm’s banking and helping it grow organically.
“This insurance firm has demonstrated a consistent path of development with each new generation of the family carrying the business forward. We look forward to working with the team to help them continue to reach their goals.”
“The insurance broker market remains very robust with a number of notable transactions over the last few years. Yorkshire Bank remains keen to work closely with those brokers that have supportable growth plans.”