Fee and commission income (1999):
Fee and commission income (1999):
£17.6m
Pre-tax profit (1999):
£5m
Head office:
Budget House
Bretton Way
Peterborough
PE3 8BG
Tel: 01733 845203
Fax: 01733 845003
e-mail:
website: www.budgetinsurance.co.uk
Major shareholders:
Two South African family trusts
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 HarperCollins, where 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 in February 1995 as deputy managing director and became group managing director in 1997. He is married with two children, both at university, and lives in Northamptonshire.
Company history:
Budget Insurance started business as a direct writer of motor and household business in 1992. While its book grew in the following few years, the underwriting cycle was particularly difficult and in 1997, it was decided that the group would focus on its activities as an intermediary, rather than as a risk carrier.
In November 1999, the group acquired Marshall Arnott and Century, taking the policy count to 425,000 and bringing 82 high street outlets into the group. This reinforces the company's strategy of trading within all distribution channels.
Main lines of business:
Personal lines
Number of UK branches:
82
Number of employees (average for 1999):
1,100
