Ripe grows turnover in 2021 with profits stable
Ripe Thinking has reported a 24% rise in turnover to £23.27m for 2021.
Founded in 1997 it was the 14th year of consecutive growth for the business which has over 280,000 policyholders.
Pre-tax profit at the insurtech, which describes itself as a digital underwriting and insurance distribution platform, was stable at £4.35m in line with the £4.31m achieved in 2020. However profit after tax dropped year-on-year from £4.02m to £3.38m, according to a filing at Companies House.
The record high level of turnover came as the Manchester-headquartered business expanded
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