RAPIDLY-expanding Gwent specialist insurance broker Quote Detective has unveiled impressive first year results.

Quote Detective, based in Pontypool, revealed earlier this month that it is on the trail of new recruits to boost its workforce by half by the end of the year

The cutting-edge insurance broker, which currently employs 45 people at its head office at Mamhilad Park Estate, Pontypool, is looking to boost that number to nearer 65 by the end of this year.

Quote Detective has posted turnover figures of £1.8m on Gross Written Premium (GWP) of £12m compared with £3m GWP in February last year on turnover of £500,000 when staff numbered just 13.

Quote Detective chief executive David Harlow said: “We’re very pleased with the way the business has performed in the first year. It’s well worth noting that by our year end in September the business should be at £20m gross written premium with a turnover of £3.2m.

“These figures are very encouraging and provide a good foundation on which to base growth for the business over the next year.

“New businesses traditionally can struggle and many fail in their first 12 to 18 months so we’re pleased not to have followed that course. The business is well placed for the next year with solid prospects for growth and job creation at our head office here at Mamhilad Park Estate.”

Mr Harlow said the specialist phone-based insurance business has plans to boost its workforce up to 50 by Easter 2018 and to 70 by this time next year.

The business, he said, is currently recruiting at all levels as Quote Detective negotiates terms with new insurers and improved terms with existing insurers leading to its immediate requirement for additional staff to handle demand.

He said: “The staff we have recruited for the business from the local pool have all been excellent.”

Insurance broker Quote Detective which outgrew its premises at Cwmbran’s Springboard Innovation Centre and is now established in 4,000 sq ft of space at Johnsey Estates-owned Mamhilad Park Estate has an eye on securing more onsite office space.

Quote Detective is owned by Next Risk Solutions Ltd. The business works with leading businesses in the world of insurance broking and online quote comparison sites.