The group, which specialises in motorcycle insurance, has been engaged in the “market of selling salvage motorbikes” and green parts across the UK and Europe since 2019, generating £1.5m of income from salvaged bikes and a further £300,000 from green parts.
Prior to Brexit, MCE exported approximately 25% of its 1,058 green parts to Europe, a percentage that has been maintained in the first quarter of 2021.
Julian Edwards, CEO at MCE Insurance commented that the trade in green parts across the continent could prove to be “a massive boon for the motorbike specialist” in the coming years.
He said: “It’s vital when you work in such a competitive market as ours, that you are able to generate sustainable alternative revenue streams and our foray into the green parts market in the last 12 months has shown that there is huge potential for us here.
“With all the headlines about companies experiencing trading restrictions post-Brexit, we weren’t quite sure what impact there would be for our young but growing green parts operation.”
“Such has been the success of this part of our business, we are increasing our sales forecast from the £1.8m generated in 2020 to £5m annually. That is hugely significant and an excellent example of our ability to diversify our business model.”