Pet Products Trade Uk
Swinton acquires Budget Network Service detail
Swinton acquires Budget Network Service detail
The annual income now exceeds 500 million pounds, with 442 branches and more than 2 million policies.
Swinton Group, the UK's largest hotel chain in today's high street insurance buy insurance through the budget high street retail sales of the Group budget.
The deal continues the growth strategy Swinton, giving the company annual revenues of more than £ 500 million to consolidate its leadership position in the insurance intermediary in the United Kingdom.
350 Swinton existing offices Street (including Colonnade brand, acquired in 2002) are now joined by 92 branches provide safe budget accommodation, car insurance, travel insurance, pet insurance and most other forms of coverage and personal life.
Marcos detail of the budget is maintained for 12 months after that the branches will trade under one brand Swinton.
Patrick Smith Chief Executive of Swinton, said: "This agreement means we have more than three times the national coverage of our nearest competitor're almost near. each in the UK. This gives us a huge advantage over our main competitors, only offer a telephone or Internet. "
"Most studies show that when customers need help with their insurance impersonal IVR strongly rejected by people. Our teams of professionals working in the UK, giving us an excellent opportunity to take advantage of our personal service managed by local branches or face to face or by telephone. Our successful growth has clearly demonstrated the benefits of offering this personalized service. "
All employees of the branch's budget will remain employed by Swinton. The total number of employees Swinton is now 3000, composed of staff working in branches, centers calls and headquarters functions.
Under the agreement Swinton taxi will also manage the budget and motor units based in Warrington and Coventry respectively.
About 230,000 policies will be added to the database and the transaction Swinton combined have over 2 million insurance policies.
Patrick Smith added: "We plan to continue the strategic growth and strengthen our existing capabilities of enterprises by increasing our base of customers through improvements in direct marketing, our increased product diversification and strengthening of relations between our bodies and our activities Online.
"We intend to keep all the new stores open, because we believe that the coverage of the budget is complementary to our existing network and increased capacity will enable Swinton Group to manage our anticipated growth and other services to customer requirements.
"Our model has a large expandability and we intend to take giants and show that, taking more care to our clients, we can become the leader in the market personal insurance. "
Last year, Swinton had a gross premium volume of 440 million pounds and expects premium income to grow £ 600m next year after buying today. The company has over 250 agent acquisitions over the past five years.
Cobbett LLP acted as legal counsel and Swinton has received advice from Ernst & Young.
For more information and interviews with CEO Patrick Smith Swinton, contact Andrew Spinoza or Jaime at SKV PR Markey 0161 236 9909,
About the Author
Swinton Group was acquired by its parent company MMA Insurance in May 2001. http://www.swinton.co.uk/
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