A Glasgow based insurance firm will soon celebrate 40 years in
business with a record turnover of £15 million. Founded in 1982, Kelvin Smith has
established itself as one of Scotland's leading insurance brokers,
weathering industry transformations, recessions, and a global
pandemic.
Initially set up as a financial services business and estate
agency, car and home insurance broker, Kelvin Smith switched focus
to commercial insurance after Direct Line shook up the industry in
the mid-1980s.
This switch of focus cemented Kelvin Smith's success - working
in sectors including hospitality, construction and property.
The firm's managing director, Stephen Travers, was Kelvin
Smith's first employee, starting as a Youth Opportunities Programme
trainee on £23.50 a week. He became a partner in 1990, taking over
the business in 1995 when he was 32. Since then, Kelvin Smith has
seen its annual income increase 900% from £1.5m to £15m, growing in
the last decade by £1m per year. Now with a staff of 40, the firm
maintains one of the highest renewal retention rates of clients of
any insurance broker in the UK at 96%.
Mr Travers attributes the firm's staying power to strong client
relationships and trust in their offerings.