Boyd Insurance celebrates 50 years of trading

Fifty years ago this year, Boyd & Company Ltd (formerly J M Boyd & Co) began trading. Within a year the business had moved from Jim Boyd’s home to an office on 5 Mill Street, Paisley, from which it still operates today.

At the beginning of its journey, Boyd experienced very different business challenges than those facing the industry today. With the country still getting used to decimalisation, average private car premiums in Scotland at only £25 and no system of industry regulation, J M Boyd & Co began with 3 members of staff and manual record keeping.

The business operated as a partnership between Jim Boyd & Malcolm Richardson until 1992 at which point it was acquired by Eric & Margaret Richardson. The subsequent 31 years saw a focus on commercial insurance and risk management and, in 1997, Boyd became the first insurance broker in Scotland to receive Investors in People accreditation.

Boyd & Company Ltd is now part of Ethos Broking, a group of like-minded independent brokers and, following the retirement of Eric Richardson, the business is now led by its current managing director, Gary Kidd.

Fifty years on through both of organic growth and strategic acquisition, Boyd Insurance now looks after £23 million of premium income with a staff of 40 professionals operating from offices in Paisley and Musselburgh.