36. Hercules Property Services

Fee and commission income (2002): £16.5m

Pre-tax profit (2002): £7.2m

Address:
Hercules House
29-39 The Broadway
Stanmore
Middlesex HA7 4DJ

Tel: 020 8420 7600

Fax: 020 8420 7660

Email: enquiries@hercules-group.co.uk

Website: www.hercules-group.co.uk, www.Farr.uk.com, www.deacon.co.uk

Year established: 1996

History: Hercules was created in 1996, when it was de-merged from a property trading company, Safeland plc. It was originally the insurance intermediary for the Safeland Group trading as Heritage Insurance Services. Since that time, it has grown as a service provider to both the commercial and residential property owning communities. The principal lines of business are in the property insurance, consultancy and management markets.

In November 2000, Hercules acquired Deacon Insurance Services, a significant intermediary player in the UK's blocks of flats insurance market. Hercules' existing insurance operations were consolidated into this business.

In December 2002 Farr plc the leading specialist insurance broker to the Housing Association (HA) market joined the group. Based in Chelmsford Farr concentrates only on the HA market. DOR (Northern) who also specialise in this market became part of the group in February 2002.

Hercules acquired Cadogan Insurance Services Ltd based in Regent Street, London W1, in May 2001. This business focuses on commercial property insurance including a specialised service to West End apartment blocks.

The group also has businesses in property management and consultancy (Dunlop Heywood Lorenz, Gross Fine, Wood Simmonds), as well as property auctions (Harman Healy and Winkworth). Overall, the group, based in Stanmore Middlesex, has revenues in excess of £40m and over 400 employees.

Major shareholders: Public company

Main lines of business: Property insurance, property consultancy, property management and property auctions.

Number of UK branches: Four insurance offices and seven additional property services locations.

Subsidiary companies:
Farr plc;

Deacon Insurances Services Ltd;

Cadogan Insurance Services Ltd;

DOR Northern Ltd;

Dunlop Heywood Lorenz Ltd;

Harman Healy Ltd, Simmonds and Partners Ltd;

Michael Courcier & Partners Ltd;

Winkworth Auctions;

Gross Fine (Holdings) Ltd.

Number of UK employees (average for 2002): 411

Chief officer: Robert Plumb

Biography: After qualifying with Ernst & Young, Plumb joined a client company, Avco Financial Services. Having undertaken the roles of treasurer and chief financial oficer, he became vice president of the group's UK insurance division and was responsible for marketing group consumer lending operations. He was appointed chief executive of the UK business in 1992 and became head of Europe as the group expanded into France, Sweden, Norway, Spain and Ireland.

In October 2000, following Avco's acquisition by the Associates Capital Corporation, he was recruited as chief executive and managing director of the Hercules group of companies. Since that time, revenues have grown from £20m to over £40m.