Fri, 26 Jun 2026 | BUSINESS NEWS
A specialist broking group has reported a rise in profit and turnover, with recent acquisitions set to accelerate its growth even further. After posting its results for its 2024-25 financial year, Principal Insurance said that acquisitions are set to drive even more significant growth moving forward and that further M&A activity is on the horizon.
Principal Insurance, which is headquartered in Sale, Manchester, was founded in 2011 as a specialist motorcycle insurance broker. Since then, the group has diversified into a range of specialist segments within the personal and commercial insurance sectors. It now employs approximately 120 staff across its headquarters and offices in Bradley Stoke, Bristol.
For its 2024-2025 financial year, the group has reported post-tax profits of over £812,000, up by 16.5 per cent from around £697,000 a year earlier, while EBITDA has risen 15 per cent from £617,000 to £710,000. Turnover, meanwhile, increased by 4.4 per cent to almost £7 million.
However, these figures pre-date the completion of a number of acquisitions by the firm. The figures exclude earnings from its acquisition of Lancaster-based Peart Performance Marque Limited from administration, which completed on the final day of its financial year.
Since then, Principal has also completed the acquisition of Bristol-based broker Europa Group, best known for the long-established MotorCycle Direct brand, in a deal that also included Europa Underwriting (trading under the Ridersure wholesale brand).
The acquisition of Europa, which was financed exclusively through shareholder funds, means that the group now serves over 125,000 policyholders and generates more than £60 million in gross written premium.
Principal Insurance founder Dave Bowcock (pictured above) said: "The figures for our last financial year are more than satisfactory, driven by growth across our portfolio, but with our motorhome and fleet segments performing particularly strongly.”
"However, recent acquisitions, most notably that of Europa Group, are set to drive much more significant growth as we further increase our share of the motorcycle insurance market and benefit from the synergies of integration."
Principal Insurance has also stated that it is seeking to explore further acquisitions. Dave Bowcock said the group was “hungry to finalise more deals” and had “the funds ready and waiting to support a targeted buy and build strategy.”
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