Fee and commission income (2002): £61.5m

Pre-tax profit (2002): £3.8m

Address:
Budget House
Bretton Way,
Peterborough
PE3 8BG

Tel: 01733 845555

Fax:

Fee and commission income (2002): £61.5m

Pre-tax profit (2002): £3.8m

Address:
Budget House
Bretton Way,
Peterborough
PE3 8BG

Tel: 01733 845555

Fax: 01733 845010

Email: manda.hepton-patchett@ budgetins.co.uk

Website: www.budgetinsurance.co.uk

Year established: 1992

History: The Budget Group of Companies is one of the largest personal lines intermediaries in the UK, with 750,000 customers, 85 high street retail outlets and major contact centre operations in Peterborough, Coventry and Sunderland. It employs around 1,900 people and is based in Peterborough.

The Budget Group of Companies began operating in the UK in 1992 when Budget Insurance Company Ltd was formed to repeat the success that founder Douw Steyn had enjoyed with South Africa-based motor insurance company, Auto & General.

With just five executives and no pre-existing customer base, Budget Insurance Company grew within four years to an annualised premium of £54m.

In December 1997, a change in group strategy led to the establishment of Budget Insurance Services to act as an insurance intermediary, marketing policies underwritten by a panel of insurers.

In November 1999, the group acquired Arnott Century, a chain of high street retail outlets based in the North-East, Scotland and London, to expand and diversify its channels of distribution.

In October 2001, Budget acquired Coventry-based Dial Direct, a major UK car and motorcycle insurance intermediary, selling primarily under the brands of Dial Direct and Bennetts. In August 2002, Budget launched its affinity business, Junction.

Major shareholders: Budget Group Ltd

Main lines of business: Personal lines

Number of UK branches: 85

Subsidiary companies: The group's trading subsidiaries operate under the names Budget Insurance Services, Dial Direct, Bennetts and Junction.

Number of UK employees: 1,900

Chief officer: Peter Winslow

Biography: Peter Winslow qualified as a chartered accountant in 1978 and went straight into the book publishing industry. He built up and sold a private niche publishing concern to Harper Collins, which he joined in 1989 as finance director. He went on to become chief executive from 1990 to 1994.

At 40, he decided on a career change, particularly wanting to focus on call centre-based operations.

He joined the Budget Group of Companies in 1995 as deputy managing director and became group chief executive in 1997.

He also presided over several high profile acquisitions including that of Arnott Century, a chain of high street retail outlets in 1999 and Dial Direct, a major UK car and motorcycle insurance intermediary in 2001, a move which saw the number of staff increase from 1,200 to nearly 2,000.

Budget now has a retail network of 85 branches and a major call centre operation, based at three sites in Peterborough, Coventry and Sunderland.

Since joining Budget, Winslow has been responsible for turning the company round from a loss making business to a profitable one.

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