Strong year for Winn Group – performance improves across all key financials

Newcastle-based Winn Group has announced an increase in revenue and profit for the year 2024-25, sustaining its upwards trajectory in a claims market that continues to evolve rapidly.

Chris Birkett, Chief Executive reported that group revenues grew from £190m – £196m, gross profit increased from £54m – £59m, and EBITDA before exceptionals tipped over the £40m mark for the first time, at £40.6m (2024: £37.4m).”

The team also increased their income from legal fees which Chris explained was due to the Group owning its own solicitors firm. Winn Solicitors Ltd posted a 32% increase in legal fees, thanks to the significant increase in Non-PI legal fees (46%) and PI Fixed Recoverable Costs (38%). MOJ portal revenue grew by 19%.

Chris said: “Our protocol arrangements with insurer partners are a key differentiator for the Group, and for claims where we don’t have protocols, we chose the right ones to litigate and delivered a 96% success rate when we did go to court. Our success rate underlines the value of protocols, which bring transparency to claims management for all sides.

“We are one of very few claims firms to own a solicitors and our results demonstrate the value of having that skill set in house; the fee income made a valuable difference to our result.”

Commenting on the performance, Chris said volume growth came from a number of new business wins as well as organic growth from existing accounts.

This was offset by a near 10% fall in average hire periods, as the market returned to normal in parts supply and labour, both of which were badly hit by the pandemic.

Chris said the Group remained fully committed to investing in technology to enhance the customer journey and drive efficiencies. “We’ve spent a six-figure sum on Agentic AI (AI case handlers) to manage data input and administration, such as interacting with the courts and the DCP.

“We have also developed an open banking app to support impecunious clients, who need to provide data to explain their financial position when making a claim. This can be a laborious and stressful process, but our new app makes the process much easier.”

Looking ahead, Chris referred to the motor claims market continuing to adapt to the post reform, post Covid world, and in response the Group is intending to boost future growth by developing a

wider portfolio of products and services, including growth in sister firm Winn Solicitors Scotland, where the offices in Edinburgh and Glasgow are now 36-strong.

“We are discussing with a number of insurers the opportunity to offer intervention and fault services as a natural extension to our 24/7 FNOL proposition, as well as creating a wills and probate offering specifically aimed at brokers.

“It’s part of our medium-term strategy to broaden our offering across the industry with a wider portfolio of products, alongside our core motor claims proposition, where we operate an integrated accident management service, a one-stop-shop for individuals involved in non-fault road traffic accidents (RTAs) in the UK.”

Chris added: “This is the first set of results without our founder, Jeff Winn at the helm. Jeff has been an outstanding leader of the Group and a driving force behind our success. As the major shareholder and board member, he will of course continue to be involved in an advisory capacity, and his insight and strategic perspective will be essential as we move into the next phase.”

Image provided by Winn Group

Francesca Kaye