23. Monument Insurance Brokers

Fee and commission income (2001): £25.6m

Pre-tax profit (2001): £4.6m

Address:
5 Lloyd's Avenue,
London EC3N 3AE

Tel: 020 7335 7300

Fax: 020 7335 7301

Email: info@monument insurance.co.uk

Website: www.monument insurance.co.uk

Year established: 1997

History: Monument Insurance Brokers was established in 1997. Within its first year of trading the business placed £5m of premium income into the insurance market. In 2003, just six years later, Monument expects to handle transactions turning over in excess of £250m of premium.

Following a successful start, the business has now been formed into two trading entities; Monument UK Ltd was formed in 2002 and accredited by Lloyd's at the beginning of 2003.

Both intermediary businesses will continue to trade independently on behalf of the Primary Group. Operating out of the City of London and Bermuda, Monument specialises in the direct placement of insurance risk, within the London and international markets and securing reinsurance contracts on behalf of a wide variety of insurance principals, principally in the UK, continental Europe, US and Australasia.

Major shareholders: Primary Group (UK) Ltd (50%), Monument Ltd (50%)

Main lines of business: Non-marine binding authorities including property, casualty, accident and health, wholesale travel and special risks. Treaty reinsurance and major facultative risks on a worldwide basis.

Number of UK branches: 2

Number of UK employees (average for 2002): 34

Chief officer: Andrew Moulton, executive chairman.

Biography: Andrew Moulton has worked in the insurance industry, in London and the US, for over 30 years.

His career includes several directorial roles for Lloyd Thompson Ltd in the UK, JLT Risk Solutions Ltd and American Equity Underwriters (AEU) in the US.

He joined Monument UK in 2002 and is based in the City of London.