Whitby, ON, September 16, 2021: Mitchell & Whale Insurance Brokers has announced financial results for its fiscal year ended July 31, 2021.
The Whitby, Ontario-based brokerage is reporting another strong year with revenue growth of 33% with gross written premiums of $51 million. The organization previously saw nearly 30% revenue growth for its fiscal year ended July 31, 2020.
In May, Mitchell & Whale revealed a bold plan to grow into a top-20 national brokerage with $1 billion in gross written premiums by 2030. The company officially launched its new strategy on August 1 and its fiscal year-end results positions the organization well as it embarks on this multi-year transformation journey.
“We’ve never been stronger or more confident, making this the right time to take these ambitious steps to massively scale our business,” said Mitchell & Whale CEO, Adam Mitchell.
“Our plan for the year ahead is based on 38% growth, and we know we need to rev up the engine a little more to get there. We’re committed to taking all steps necessary to execute our strategy while continuing to provide our clients with the high level of service and support they expect.”
The company is making significant investments in talent, technology and marketing to help build momentum and set itself up for success. Since May, Mitchell & Whale has added almost 30 new employees and will expand its workforce by an additional 15% over the next four months. The brokerage will be announcing new executive appointments in the coming weeks. It will also be unveiling an entirely new brand and purpose this fall to better stand out in a crowded marketplace.
“This is just the start of the journey, and we’re continuing to innovate and improve all areas of our business,” said Mitchell. “This isn’t going to be easy. Yesterday’s winning playbook isn’t tomorrow’s, and all members of our team need to be willing to change and adapt as we grow. But everyone believes in the vision, and we’re excited to see where we can take things.”
About Mitchell & Whale:
Mitchell & Whale Insurance Brokers is a family-run business operating since 1948. An insurance brokerage based in Whitby, the company serves tens of thousands of customers across Ontario. Mitchell & Whale was voted the #1 insurance brokerage in the province by the Insurance Brokers Association of Ontario (IBAO) in 2018 and named one of the country’s fastest growing companies by Canadian Business Magazine in 2019. Learn more at mitchellwhale.com.
Shawn Despres, Head of Communications
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