Insurance Post

Making the connections

This young, vibrant and ambitious sector has enjoyed impressive success during the past 10 years, wi...

This young, vibrant and ambitious sector has enjoyed impressive success during the past 10 years, with over 30% growth. Knowledge based and expertise driven, its dynamism and energy reflect the characteristics of the Welsh economy of the 21st Century.

Fifteen years ago the fledgling Admiral Insurance located from the City of London to Cardiff. Today, the group employs around 2200 people, has probably the best cost/income ratio in its business area and has seen its share price more than quadruple since the initial public offering in 2004. Just a couple of months ago Admiral Group entered the prestigious FTSE 100 club of top flight UK companies.

Other big brand financial services organisations in recent times have chosen to make Wales their headquarters centre of operations. These include Lloyds TSB Black Horse consumer finance as well as Lloyds TSB general insurance; Atradius, the global credit insurer; First Plus, part of Barclays Group; Halifax Bank of Scotland card services; and Moneysupermarket.com.

Expert risk managers with key operations in Wales feature such insurance big hitters as Legal and General, Jardine Lloyd Thompson, HSBC, Axa, AA, Insurance Australia Group and Zurich.

Businesses are confident that being based in Wales provides the opportunity to take advantage of easy access to the right people, productivity gains and profitability growth.

Talented people are being attracted in increasing numbers to work in Wales' flourishing financial services industry, whether starting their careers or looking for senior positions. Staff retention rates in Wales are among the highest in the UK and companies can count on staff loyalty and professionalism. Consistency and quality service delivery are essential parts in building long-term, profitable relationships with clients.

International Business Wales offers an impressive range of financial assistance and business support. Specialist relationship managers work one-to-one with businesses offering advice, guidance and 'make the connections' on a host of issues from site selection, recruitment and skills development.

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