A Manchester-based digital managing general agent has marked its 17th consecutive year of double-digit growth after turnover rose to £20.6m in 2024.
Ripe saw its revenue increase by £2.8m over the year, as it expanded its policyholder base to 365,000 across various SME, leisure and lifestyle products.
It then completed its second major acquisition towards the end of 2024, when it swooped for specialist boat insurance company GJW Direct. This brought the firm’s total policyholder count to over 400,000.
Following the acquisition in October 2023 of Craftinsure, the business has successfully transitioned to Ripe’s proprietary technology stack, Juice, experiencing 15% growth as a result of enhanced marketing efforts and increased investment in technology.
All Ripe legacy products have now migrated to the Juice platform in an attempt to optimise the customer experience.
The business has also received investment and operational support from London and New York based Aquiline, which has enabled it to continue pursuing its ambitious growth strategy.
“These results highlight the strength and resilience of Ripe’s business model,” said Rob Styring, CFO at Ripe. “We’ve achieved strong organic growth, seamlessly integrated Craftinsure, and taken another significant step forward with the addition of GJW Direct.
“With all our products now on the Juice platform and a healthy pipeline of new launches and acquisitions ahead, we are in an excellent position to continue scaling.
“As we grow, our focus remains on growth through expansion into new markets and by using data and insight to deliver outstanding customer outcomes.”