46. Thompson Heath & Bond (Holdings)

Fee and commission income (2000): £9.9m
Pre-tax profit (2000): £1.3m

Address:
12 Poverest Road
Orpington
Kent
BR5 2TP
Tel: 01689 827 044
Fax: 01689 830 413
Email: mail@thbgroup.co.uk

Website: thbgroup.co.uk

History: Thompson Heath & Bond (THB) was formed in 1967, as a retail broker based in Orpington, Kent. By 1977, business was growing steadily and, as the company became a Lloyd's broker, THB opened an office in the City and introduced a UK wholesale division.

In 1981, David Ulph joined THB and established its North American division which, in those days, largely placed outward London Market reinsurance through US intermediaries. This division's focus has changed many times over the years, showing an early acknowledgement by THB not just of the need for change but also an ability to embrace it. Four years later, THB Intermediaries, a facultative reinsurance broker, was launched in Los Angeles. Further offices were opened in Chicago (1986) and New York (1988). By 1990, it had become one of the largest intermediaries in the US facultative market. THB Intermediaries was eventually sold in 1993 and is now totally independent of the THB
Group of companies.

During the latter part of this period, THB strengthened its UK business through the acquisition of several Scottish brokers which were merged in 1992 to form Marshall Ewart & Graham, now one of the largest independent brokers in Scotland. Two years later, THB opened an office
in Leeds.

In 1996, THB was restructured to focus more on management and, as part of this process, David Ulph was appointed as deputy chairman with responsibility for strategic growth and acquisitions. At the same time, Gill Cotter, who has held various positions within THB during the past 20 years, was appointed managing director of the THB Group of companies.

The major growth at THB has occurred during the past five years and for the year to April 2001, THB recorded a further growth of 40%, taking their brokerage income to £13.8m.

Chief officer: Victor Thompson, chairman
Biography: Thompson Heath & Bond founding chairman, Vic Thompson, left Bromley Grammar School at 16 and went straight into the City, joining Sun Insurance Office. Following a short spell with a South London insurance broker, he joined Lloyd's broker Steel Brothers & Higgins before moving to Hogg Robinson at the age of 21. Two years later, in 1967, he established his own business and THB became a Lloyd's broker in 1977.

At that stage, his involvement concentrated on the financial side and he still remains the financial director. The combination of broking and finance enabled him to devise a rescue package within a few hours when, in 1997, THB (as guaranteeing brokers) faced a bad debt of £4.5m in respect of Alliance. This remains the largest guaranteeing loss to date.

Major shareholders: Victor Thompson, David Ulph and Gill Cotter

Main lines of business: Provision of niche binding authority and open market facilities for large quality wholesale brokers both in the US and the UK.

Special schemes: THB develops bespoke schemes for individual brokers.

Number of UK branches: 4
Number of employees (average for 2000): 132

Greatest technological advance: 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.