43. Thompson Heath & Bond (Holdings)
Fee and commission income (2001): £12.2m
43. Thompson Heath & Bond (Holdings)
Fee and commission income (2001): £12.2m
Pre-tax profit (2001): £2.5m
Address: 12 Poverest Road
Orpington
Kent
BR5 2TP
Tel: 01689 827 044
Fax: 01689 830 413
Website: www.thbgroup.co.uk
History: Thompson Heath & Bond (THB) was formed in 1967 and developed initially as a predominately UK brokerage, being admitted as a Lloyd's broker in 1977. It remained largely focused on UK business until David Ulph joined in 1981 to establish the North American division which has subsequently grown to become the largest division within THB.
During the 1990s THB strengthened its UK business with the acquisition of several Scottish brokers which were merged to form Marshall Ewart & Graham Limited and in 1994 THB opened an office in Leeds.
The biggest single development to date has been the acquisition in 2001 of the TL Clowes (TLC) Group headed by Paul Dudley and Karen Watson. The TLC group consists of three operating companies, one a Lloyd's broker in London together with a general insurance broker and an independent financial adviser both based in Leamington Spa.
TLC, founded 25 years ago by Tim Clowes, are probably best known for its involvement with motor sport where it has occupied a leading position for many years, especially in areas such as Formula One. The addition of TLC has strengthened the retail arm of THB which previously was usually better known for its expertise as a Lloyd's wholesale broker.
During the past year share option schemes have crystallised in both THB and TLC and from five shareholders in THB a year ago there are now over 80 shareholding members of staff within the group.
Chief officer: Vic Thompson, chairman
Biography: Thompson established THB in 1967 having previously worked for Sun Insurance Office and two Lloyd's brokers. For many years his involvement has been concentrated on the financial side of the business although he recently stepped down as group financial director in May 2002 to enable him to concentrate on the continued growth and strategic direction of the group.
Major shareholders: Vic Thompson; David Ulph; Gill Cotter; Paul Dudley; Karen Watson; Frank Murphy; Edward Close-Smith
Main lines of business: Wholesale: Provision of niche binding authority and open market facilities for large quality brokers both in the UK and the US.
Special schemes: THB develops bespoke solutions for individual brokers and corporate clients.
Number of UK branches: 7
Number of employees (average for 2001): 241
Technology: The implementation of a web-based recording and billing system for Procter & Gamble's global advertising insurance programme. This allows THB to manage the programme and share information with all parties in a highly efficient manner. It also gives THB the opportunity to run similar schemes for other major organisations.
