Giles in push to double commission and gain Lloyd's accreditation

Giles Insurance Brokers is to open a City office as part of a plan to double its commission income in three years.

The company, which has its financial year-end in August, said it was on track to reach £18m at the end of 2005, with a target of £33m by 2008.

Former Willis strategic relations director David Hawkins has been appointed a director of Giles' southern region and will "spearhead" the company's bid to secure Lloyd's accreditation, with a target date of June 2005.

Giles chief executive Chris Giles said the southern region, which is on track to reach £2.1m in commission income at the end 2005, had an income target of £7.4m by 2008. Of this total, the City office had a target of £1.5m in commission income, and the Lloyd's business a target of £1m.

He said construction was the company's largest target area for growth, with a target of £3m in commission income, up from £650,000.

The new office will employ 25 people over the next 12-18 months with recruitment beginning in early 2005.

Giles' recruitment and employment accreditation scheme, underwritten by Groupama, will operate out of the new office, as well as its City retail business, providing assistance for the group's existing Lloyd's business, said Giles.

At the same time, the broker said it would consolidate its Crawley operation into its office in Croydon. No job losses are anticipated as a result of the merger.