Central Insurance Services Ltd has consolidated its position as Scotland’s largest independent insurance broker with the opening of a new office in Glasgow.
The ambitious Aberdeen-based broker has been keen to establish a Central Belt presence for some time and the £1.2 million investment in premises and staff gives the company a strong platform to continue its growth strategy.
Central Insurance’s managing director, Iain Henry, said acquisitions by large insurance consolidators had led to a decline in the number of independent brokers in the Glasgow insurance market, giving Central an opportunity to extend its operations.
In addition, the national and global brokers are increasingly shifting focus away from the SME mid-market segment, whilst removing traditional broker services such as claims handling and open-market broking in return for shareholder value. This strategy doesn’t suit the majority of Scottish businesses which is why Central believes it’s the right time to expand in the Central Belt.
Mr Henry said: “We have been considering this development for some time with a view to buying smaller brokers but have been hindered due to inflated valuations by owners, combined with a lack of quality opportunities.
“We decided that the best approach was to hand-select a team of key individuals from the Scottish insurance market and we are delighted to have recruited a number of highly regarded broking experts who will drive this initiative forward.”
Central has caused quite a stir in the insurance market by recruiting experienced staff from leading insurance brokers. The Glasgow operation will be led by former Aon regional sales manager, Tom Aldridge, who has been appointed regional director. Scott Campbell, formerly of Axa, has been appointed and will be responsible for the management and development of commercial business, while Ian Docherty, former broking director of Willis, has joined the team to manage insurer relations and support the group’s broking strategy.
Additional support staff and broking and claims personnel have joined the team at newly acquired offices at 140 West George Street in the centre of Glasgow.
Mr Henry added: “A ready-made experienced insurance team is in place and will focus on the Glasgow market and assist our other specialists in Aberdeen. It’s an exciting push in to new territory for Central Insurance but consistent with our policy of expanding the business through careful acquisitions and planned organic growth.”
Tom Aldridge added: “Central Insurance has an impressive track record of consistent growth and our Glasgow team can add to that legacy. We look forward to forging lasting relationships with new clients who will benefit from having Scotland’s largest independent insurance broker on their doorstep.”
Note to Editors
Central Insurance Services Ltd is located at Crown House, Prospect Road, Arnhall Business Park, Westhill, Aberdeen, AB32 6FE.
Central Insurance Services is now open for business at 140 West George Street, Glasgow, G2 2HG. Telephone 0141 404 0600.
Central Insurance employs more than 70 staff and offers a range of business and commercial insurance services. Key sectors covered include: Energy and Engineering; Professional Services; Property Owners; Developers and Managers; Construction; Agriculture; Food and Fish Processing; Transport and Distribution; Plant Hire and Civil Engineering; Tourism, Leisure and Entertainment.
Other areas of expertise include: Offshore Insurance; Personal Insurance and Risk Management.
Issued on behalf of Central Insurance Services Ltd by Sure Public Relations. For further information please contact Stephen Rafferty on +44 (0) 7980 598764 or email firstname.lastname@example.org