PROFILE |
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Who insures the London Fire Brigade? Independent Insurance Group. The company focuses on insuring the unusual, targeting such niches as coverage for yachts, classic cars, and specialty commercial lines. The company has made making an underwriting profit one of its cornerstones and works closely with its 2,500 brokers to sell carefully underwritten policies; to achieve this, Independent is willing to sacrifice short term premium income for long term quality. Independent operates in the UK, France, Ireland, and Spain. In an attempt to reduce debt, the company is planning to bring in new investors and raise capital through a share placing; Independent is also cutting its workforce by some 50% (more than 1,000 employees).
COMPETITION |
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CGNU plc (CGNU)
Prudential plc (PUK)
Royal & Sun Alliance Insurance Group plc (RSA)
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FINANCIAL OVERVIEW |
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Fiscal Year-End: December
2000 Sales (mil.): 1,441.10
1-Yr. Sales Growth: 103.0%
Employees: 2,019
Revenue per employee: $713,769.19
KEY PEOPLE |
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Michael J. Bright
CEO
Dennis Lomas
CFO
CONTACT INFO |
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2 Minster Ct., 5th Fl., Mincing Ln.
London EC3R 7XD, United Kingdom
Phone: 44-20-7623-8877
Fax: 44-20-7283-8275
Online: Web Site
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