Reassured has climbed up the Sunday Times Fast Track 100 league table from 59th position in 2019, to 46th position this year.
The league table, which has been published every year since 1997, lists the UK’s top 100 independent companies with the fastest-growing sales over the previous 3 years.
Reassured was the only life insurance broker to feature in the 2020 list; other top companies included sportswear brand Gymshark and beauty products manufacturer Tropic Skincare.
Nominated companies had to demonstrate year-on-year sales growth, have sales of more than £5 million in the latest year, and to have made an operating profit of at least £500,000 in their latest available accounts.
As a special Covid-19 edition of the league table, each company also had to demonstrate how they effectively responded and adapted during the Covid-19 pandemic.
This years’ fastest-growing companies had an average three-year sales growth of 73% per annum to a combined total of £4.4 billion, as well as a combined operating profit of £437 million.
Reassured had an annual sales increase of 60.75% (up 15.61% from the previous year) and annual sales reaching £65.1 million (up £27.3m).
In April 2020, the life insurance broker acquired a 35% minority growth investment from Bridgepoint Development Capital (BDC) which has helped fuel their growth.
During the first lockdown, Reassured remotely recruited and onboarded almost 100 new people and opened their 6th office in Brighton. They then opened 3 more new offices (2 of which have already expanded), with plans to open several more in early 2021. They have also more than doubled their workforce since 2018 and now employ over 850 people across 8 locations.
In November 2020, Reassured won Growing Business of the Year (Larger Company) at the Growing Business Awards and earlier in the year they featured in the Sunday Times Top 100 Companies to Work For securing 12th position.
The league table is compiled by Fast Track 100, is sponsored by Virgin Atlantic and is published in the Sunday Times every December. The awards ceremony takes place in September 2021.
Phil Jeynes, Director of Corporate Sales, said of the announcement:
It’s fantastic that Reassured is featured in the Fast Track 100 for a 2nd year running.
Our growth has accelerated over the last few years, particularly in 2020 despite the challenges. When the pandemic struck, we transitioned our entire workforce to work from home within just two weeks, so that there was as little disturbance as possible to the vital service we provide our customers.
Our salespeople continued to perform exceptionally well over the lockdown periods, even with all the challenges that home working brings. During these uncertain times, we’ve also paid particular attention to the well-being of our employees, and ensure that they have all the support they need.