Swinton Insurance

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Swinton Group Ltd
Company typeSubsidiary
IndustryInsurance
Founded1957 (1957)
FounderKen Scowcroft
HeadquartersEmbankment West Tower, 101 Cathedral Approach,
Salford M3 7FB
,
United Kingdom
ProductsHome insurance, motor insurance, business insurance, caravan insurance, bike insurance, van insurance, taxi insurance
OwnerArdonagh Group [1][2][3]
Number of employees
More than 1,500
Websiteswinton.co.uk

Swinton Insurance is a UK insurance retailer that was established in 1957.[4][5] The company offers a range of insurance products from a panel of UK insurers covering car, bike, home, commercial, taxi and caravan insurance.[6]

History

Swinton was founded in 1957 by Ken Scowcroft (born 1928[7]) who began the car insurance brokerage business from the front room of his semi-detached house in Swinton, Greater Manchester.[8] in the first year, he sold around 100 policies to local people.[9]

North West of England.[10] It was then merged with Denbury Insurance owned by Brian Blake, retaining the Swinton Insurance name. The company became the first insurance franchise and the first to introduce a computer quotations system, which is now common in major UK insurers.[11] In 1981, Ken Scowcroft's son, Brian Scowcroft, joined the business and worked in a number of different roles including Finance Director[12] before being appointed Joint Chief executive in 1985.[13]

In 1988 Swinton was sold to Sun Alliance[14] for £130m[15] and in 2001 it changed hands again when it was acquired by MMA Holdings UK Plc.,[16] which is, in turn, owned by Covéa SGAM (Société de Group d'Assurance Mutuelle).

In 2002, The Swinton Insurance Group acquired the specialist caravan and motorhome insurer, Safeguard,[17] and in 2004, it acquired Manchester based insurance group Deansgate Insurance.[18]

By 2008, Swinton had become the third largest insurance retailer in the UK, and the largest in Northern Ireland, managing over three million individual car, home and life insurance policies.[19] Their position in the Northern Ireland market was further bolstered with the acquisition of Open + Direct in 2009.[20]

The Swinton Insurance Group continued their UK-wide acquisition strategy in 2012 with the purchase of Greys Insurance in Burnley.[21] In 2013, they then purchased Stroud based insurers Alexander James Commercial[22] before agreeing a deal to buy the general insurance book of North Wales-based Anderson Insurance Services in 2014[23] and the Cleethorpes based C H Turner Insurance Consultants.[24]

Chief executive Christophe Bardet stepped down at the end of December 2014 and was succeeded by Gilles Normand, formerly the CEO of MMA Holdings UK Plc.[25] Gilles Normand stepped down as CEO in October 2018 and was replaced by Scott Kennedy as Managing Director.[26]

Ardonagh Group purchased Swinton in September 2018 for £165million.[27]

Advertising

Swinton Insurance was the first insurance broker to advertise on UK television in the 1960s.[28] In the 1980s, Swinton ran television commercials featuring a 'Man with Big Glasses'.[29]

In the 1990s, Swinton Insurance ran a television commercial campaign featuring characters from the television programme Thunderbirds.[30][31]

Other commercials have featured Emmerdale actor John Middleton[32] and the animated television characters of The Flintstones.[33]

Controversy

In 2009, Swinton was fined £770,000 by the Financial Services Authority (FSA) for mis-selling payment protection insurance (PPI) policies.[34] In July 2013, Swinton was fined £7.4m by the Financial Conduct Authority (FCA) in relation to sales of monthly insurance products sold by telephone between April 2010 and April 2012.[35]

Chief executive Christophe Bardet stated that Swinton had notified these problems to the Financial Services Authority in March 2012 and co-operated fully with the FCA. Swinton acknowledged its shortcomings in its sales practices during the specific period in question, and the company unreservedly apologised to customers.[36] After instigating a full review of the business after his appointment in December 2011, Bardet announced a comprehensive transformation of the business with a three-year, £75m investment programme.

In May 2014 Swinton Insurance was criticised by Welsh Language Commissioner[37] Meri Huws for prohibiting call centre staff from using Welsh when discussing details of financial products with Welsh speaking customers in Wales.[38]

References

  1. ^ "Ardonagh buys Swinton for £165m". 27 September 2018.
  2. ^ "Insurer Swinton snapped up by rival Ardonagh for £165m". 27 September 2018.
  3. ^ "The Ardonagh Group to buy insurer broker Swinton for 165 million pound". Reuters. 27 September 2018.
  4. ^ Swinton Insurance Page on their formation and history
  5. ^ Swinton staff and Branch numbers
  6. ^ Swinton Insurance Product Offering from Bloomberg's Company Profile
  7. ^ Kenneth Scowcroft year of birth
  8. ^ "Interview: Brian Scowcroft, property developer". The Guardian. 26 June 2004. Archived from the original on 1 April 2022.
  9. ^ Swinton History and cost of original insurance policy and amount sold
  10. ^ "Interview: Brian Scowcroft, property developer". The Guardian. 26 June 2004. Archived from the original on 1 April 2022.
  11. ^ MEN article on the history of Swinton Insurance
  12. ^ Link to information on Brian Scowcroft
  13. ^ The Guardian Interview with Brian Scowcroft
  14. ^ Swinton's sale to Sun Alliance headed by Brian Blake
  15. ^ Evening News confirmation of Swinton Sale figure
  16. ^ Acquisition of Swinton Insurance in 2001 by MMA
  17. ^ Swinton Insurance details of Safeguard acquisition
  18. ^ Manchester Evening News report on acquisition of Deansgate Insurance
  19. ^ Details of Swinton's growth by 2008
  20. ^ Details of Swinton acquiring Open + Direct Insurance
  21. ^ Swinton Insurance acquire Greys Insurance
  22. ^ Acquisition of Alexander James Insurance
  23. ^ Swinton Insurance Acquisition of Anderson Insurance Services
  24. ^ Acquisition of CH Turner in Cleethorpes
  25. ^ Insurance Age article on new CEO appointment at Swinton Insurance
  26. ^ "Gilles Normand leaves Swinton". Insurance Age. 11 October 2018. Retrieved 18 January 2019.
  27. ^ "Ardonagh buys Swinton for £165m". 27 September 2018.
  28. ^ Swinton insurance first UK insurance broker to advertise on TV
  29. ^ Man with big glasses TV advert on YouTube
  30. ^ Swinton Thunderbirds Commercial on YouTube
  31. ^ Swinton Brains TV commercial on YouTube
  32. ^ YouTube link for TV advert featuring John Middleton
  33. ^ YouTube advert for Swinton featuring The Flintstones
  34. ^ "Final Notice (To Swinton Group Ltd)" (PDF). Financial Services Authority. 28 October 2009. Retrieved 25 March 2014.
  35. ^ "FCA fines Swinton Group Limited £7.38 million for mis-selling monthly add-on insurance policies – Financial Conduct Authority". Financial Conduct Authority. 16 July 2013. Retrieved 25 March 2014.
  36. ^ The Journal article on Swinton insurance fines and customer apology
  37. ^ Welsh Language Commissioner's findings
  38. ^ Swinton criticised by Welsh Speaking Commissioner

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Swinton_Insurance&oldid=1219070452"