10. GE Insurance

Financial Insurance Company

Gross written premiums less treaty (2000): £551.6m
Year established: 1972
Address:
Vantage West
Great West Road
Brentford,
Middlesex
TW8 9AG
Tel: 020 8380 3000
Fax: 020 8380 2131
Website: www.gefi.co.uk

History: GE Financial Insurance Europe (GEFI Europe) is a specialist insurer and one of Europe's leading providers of creditor insurance. In the UK, where it is headquartered, GEFI Europe has established itself as a leader in travel and personal accident insurance. Working in partnership with leading high street banks, building societies, finance houses, retailers, travel agents and airlines, GEFI Europe provides financial protection for consumers through short-term, private label insurance products.

In the UK, GEFI now protects more than a quarter of the working population, providing them with peace of mind that their financial commitments will be met should the unexpected happen.
GEFI Europe's first operation outside the UK was established in 1986 and now spans 12 countries. Although creditor insurance remains the core product provided outside of the UK, a series of strategic initiatives are focused on expanding the product portfolio for European markets.

GEFI Europe was established in 1972 under the name of Financial Insurance Group (FIG). In 1992,
GE Capital acquired FIG and two years later acquired Consolidated Insurance Group (CIG). Both companies were merged and the newly created business was named Consolidated Financial Insurance. Various other insurance companies were acquired, including Accident & General, and operated under the CFI umbrella. In 1999, this group of companies was brought together under the name of GE Insurance Holdings. GE Insurance Holdings serves as the European platform for US-based GE Financial Assurance, a global consumer insurance and investment group. GE Financial Assurance is
part of the General Electric Company of America.

Chief officer: Bill Goings
Biography: Goings is managing director of GE Financial Insurance Europe (GEFI Europe), based in Brentford, Middlesex.

Previously, Goings was senior vice president of GEFA-Direct and business to consumer e-business leader for GEFA. In these positions he was responsible for product and channel management for GEFA Direct, including the direct to consumer distribution of insurance and investment products. He also led the development of the GE Financial Network ( www.gefn.com ) and the GE Centre for Financial Learning ( www.financiallearning.com ).

Since joining GE in 1997, Goings has held several key positions, including e-business leader for GEFA, where he helped catalyse global e-initiatives and served in a business development role, leading the acquisition of GEFA's Independent Accountant's Network (IAN).

His previous experience includes working for Amoco Corporation (BP/Amoco), Citibank, Continental Bank and Philadelphia National Bank (First Union). Goings holds a Masters of Management degree from Northwestern University and a Bachelor of Arts Degree from Morehouse College.

UK branch offices: One
UK staff: 600
Direct arm: Worldcover Direct (direct travel insurer)
Main classes of general insurance business: Creditor, personal accident and travel.
Key general insurance personnel:
Anna Lisa Tazartes, marketing director
Ian Moffatt, head of client relationships
Paul Miers, finance director
Ian Baker, human resources director