3rd February 2026

Top 100 insurance broker M&DH is looking to grow its headcount to a 100 after securing an investment loan from Allica Bank.

Founded in 2002 by Richard Hames, Bedford-based M&DH Insurance Services provides cover to both corporate and individual customers, with specialisms in the construction and manufacturing sectors.

It currently claims to provide insurance cover for more than 4,500 clients, managing over 12,000 policies, and was ranked in the £6m-£7.5m revenue banding in the 2025 Insurance Age Top 100 UK Brokers listing.

Seven figure sum

The broker has now secured “seven figure sum” from challenger business bank Allica to support what it described as “its next phase of growth – including expanding its Bedford headquarters, investing in technology and creating numerous new roles across the business”.

M&DH projects income from premiums to exceed £30m over the next 12 months. And reports a retention rate of more than 93%, with 40% of customers staying for over a decade.

It currently employs more than 75 people – including an IT hub in Macedonia – and operates from a former school building in Bedford.

“Having grown up locally myself, it’s especially rewarding to work with Richard and the team and see first-hand just how passionate they are about our community.” Wahid Nawaz, Allica Bank

Double digit growth

A spokesperson told Insurance Age: “M&DH Insurance plans to continue on [its] double digit growth trajectory over the coming years; extra staff resource will be required along this journey so [it] aims to grow to around 100 staff by 2030.”

Having already expanded across much of its current office space, the firm is aiming to use the finance from Allica Bank to help create additional space for growing teams and its in-house training academy – M&DH Academy.

Launched in 2015, the academy aims to provide structured training and career pathways for graduates and those new to the world of insurance.

According to M&DH more than 60% of staff, including directors, have progressed through the academy, “helping the business retain talent locally while building long-term expertise”.

Invest in people

Founder and CEO Richard Hames, pictured, said: “The funding from Allica Bank allows us to invest in our space, our systems and, most importantly, our people – so we can keep growing in Bedford while delivering the high level of service our clients rely on.”

Wahid Nawaz, Allica Bank’s relationship manager, added: “M&DH is a standout example of a growth-focused business with strong local roots. As they expand nationally while staying true to Bedford, their commitment to developing people is clear – and it’s exactly the kind of ambition we’re proud to support.

“Having grown up locally myself, it’s especially rewarding to work with Richard and the team and see first-hand just how passionate they are about our community.”