Swinton Insurance Explained

Swinton Group Ltd
Type:Subsidiary
Founder:Ken Scowcroft
Industry:Insurance
Products:Home insurance, motor insurance, business insurance, caravan insurance, bike insurance, van insurance, taxi insurance
Owner:Ardonagh Group [1] [2] [3]
Num Employees:More than 1,500
Location City:Salford M3 7FB
Location Country:United Kingdom
Hq Location:Embankment West Tower, 101 Cathedral Approach

Swinton Insurance is a UK insurance retailer that was established in 1957.[4] [5] The company offers a range of insurance products from a panel of UK insurers covering car, bike, home, commercial, taxi and caravan insurance.[6]

History

Swinton was founded in 1957 by Ken Scowcroft (born 1928[7]) who began the car insurance brokerage business from the front room of his semi-detached house in Swinton, Greater Manchester.[8] in the first year, he sold around 100 policies to local people.[9]

The first branch was opened in 1964 in Salford, and the branch network originally expanded in the Manchester region before it expanded throughout the North West of England.[10] It was then merged with Denbury Insurance owned by Brian Blake, retaining the Swinton Insurance name. The company became the first insurance franchise and the first to introduce a computer quotations system, which is now common in major UK insurers.[11] In 1981, Ken Scowcroft's son, Brian Scowcroft, joined the business and worked in a number of different roles including Finance Director[12] before being appointed Joint Chief executive in 1985.[13]

In 1988 Swinton was sold to Sun Alliance[14] for £130m[15] and in 2001 it changed hands again when it was acquired by MMA Holdings UK Plc.,[16] which is, in turn, owned by Covéa SGAM (Société de Group d'Assurance Mutuelle).

In 2002, The Swinton Insurance Group acquired the specialist caravan and motorhome insurer, Safeguard,[17] and in 2004, it acquired Manchester based insurance group Deansgate Insurance.[18]

By 2008, Swinton had become the third largest insurance retailer in the UK, and the largest in Northern Ireland, managing over three million individual car, home and life insurance policies.[19] Their position in the Northern Ireland market was further bolstered with the acquisition of Open + Direct in 2009.[20]

The Swinton Insurance Group continued their UK-wide acquisition strategy in 2012 with the purchase of Greys Insurance in Burnley.[21] In 2013, they then purchased Stroud based insurers Alexander James Commercial[22] before agreeing a deal to buy the general insurance book of North Wales-based Anderson Insurance Services in 2014[23] and the Cleethorpes based C H Turner Insurance Consultants.[24]

Chief executive Christophe Bardet stepped down at the end of December 2014 and was succeeded by Gilles Normand, formerly the CEO of MMA Holdings UK Plc.[25] Gilles Normand stepped down as CEO in October 2018 and was replaced by Scott Kennedy as Managing Director.[26]

Ardonagh Group purchased Swinton in September 2018 for £165million.[27]

Advertising

Swinton Insurance was the first insurance broker to advertise on UK television in the 1960s.[28] In the 1980s, Swinton ran television commercials featuring a 'Man with Big Glasses'.[29]

In the 1990s, Swinton Insurance ran a television commercial campaign featuring characters from the television programme Thunderbirds.[30] [31]

Other commercials have featured Emmerdale actor John Middleton[32] and the animated television characters of The Flintstones.[33]

Controversy

In 2009, Swinton was fined £770,000 by the Financial Services Authority (FSA) for mis-selling payment protection insurance (PPI) policies.[34] In July 2013, Swinton was fined £7.4m by the Financial Conduct Authority (FCA) in relation to sales of monthly insurance products sold by telephone between April 2010 and April 2012.[35]

Chief executive Christophe Bardet stated that Swinton had notified these problems to the Financial Services Authority in March 2012 and co-operated fully with the FCA. Swinton acknowledged its shortcomings in its sales practices during the specific period in question, and the company unreservedly apologised to customers.[36] After instigating a full review of the business after his appointment in December 2011, Bardet announced a comprehensive transformation of the business with a three-year, £75m investment programme.

In May 2014 Swinton Insurance was criticised by Welsh Language Commissioner[37] Meri Huws for prohibiting call centre staff from using Welsh when discussing details of financial products with Welsh speaking customers in Wales.[38]

Notes and References

  1. Web site: Ardonagh buys Swinton for £165m. 27 September 2018.
  2. Web site: Insurer Swinton snapped up by rival Ardonagh for £165m. 27 September 2018.
  3. News: The Ardonagh Group to buy insurer broker Swinton for 165 million pound. Reuters. 27 September 2018.
  4. http://www.swinton.co.uk/about-us/ Swinton Insurance Page on their formation and history
  5. http://www.swintoncareers.com/about.html Swinton staff and Branch numbers
  6. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=6034653 Swinton Insurance Product Offering from Bloomberg's Company Profile
  7. http://www.endole.co.uk/profile/1003621/kenneth-scowcroft Kenneth Scowcroft year of birth
  8. Web site: Interview: Brian Scowcroft, property developer . 2004-06-26 . . https://web.archive.org/web/20220401082350/https://www.theguardian.com/business/2004/jun/26/5 . 2022-04-01 . live .
  9. http://www.swinton.co.uk/about-us/ Swinton History and cost of original insurance policy and amount sold
  10. Web site: Interview: Brian Scowcroft, property developer . 26 June 2004 . . https://web.archive.org/web/20220401082350/https://www.theguardian.com/business/2004/jun/26/5 . 1 April 2022 . live .
  11. http://www.manchestereveningnews.co.uk/business/business-partners-blazed-trail-car-7696031 MEN article on the history of Swinton Insurance
  12. http://brianscowcroft.crazybillionaire.org/brianscowcroft.php Link to information on Brian Scowcroft
  13. https://www.theguardian.com/business/2004/jun/26/5 The Guardian Interview with Brian Scowcroft
  14. http://www.manchestereveningnews.co.uk/business/im-right-home-being-veteran-7696012 Swinton's sale to Sun Alliance headed by Brian Blake
  15. http://www.manchestereveningnews.co.uk/news/greater-manchester-news/18-brian-scowcroft-and-family-165m165m-1070831Manchester Evening News confirmation of Swinton Sale figure
  16. http://www.insuranceage.co.uk/professional-broking/news/1195038/rsa-sells-swinton Acquisition of Swinton Insurance in 2001 by MMA
  17. http://www.marquisleisure.co.uk/services/insurance Swinton Insurance details of Safeguard acquisition
  18. http://www.manchestereveningnews.co.uk/business/business-news/swinton-expands-with-deansgate-acquisition-1198928 Manchester Evening News report on acquisition of Deansgate Insurance
  19. http://www.salfordonline.com/localnews.php?func=viewdetails&vdetails=10299 Details of Swinton's growth by 2008
  20. http://www.belfasttelegraph.co.uk/business/opinion/big-interview/open-and-direct-way-to-insure-the-best-service-28503818.html Details of Swinton acquiring Open + Direct Insurance
  21. http://www.insuranceage.co.uk/insurance-age/news/2206733/swinton-makes-burnley-acquisition Swinton Insurance acquire Greys Insurance
  22. http://www.stroudlife.co.uk/Insurance-giant-Swinton-takes-family-firm/story-17731140-detail/story.html Acquisition of Alexander James Insurance
  23. http://www.insuranceage.co.uk/insurance-age/news/2326315/swinton-commercial-completes-first-acquisition-of-2014 Swinton Insurance Acquisition of Anderson Insurance Services
  24. http://www.insuranceage.co.uk/insurance-age/news/2334225/swinton-completes-second-acquisition-of-2014 Acquisition of CH Turner in Cleethorpes
  25. http://www.insuranceage.co.uk/insurance-age/news/2375889/gilles-normand-to-become-new-swinton-insurance-ceo Insurance Age article on new CEO appointment at Swinton Insurance
  26. Web site: Gilles Normand leaves Swinton. 2018-10-11. Insurance Age. en. 2019-01-18.
  27. Web site: Ardonagh buys Swinton for £165m. 27 September 2018.
  28. http://www.salfordonline.com/localnews.php?func=viewdetails&vdetails=10299 Swinton insurance first UK insurance broker to advertise on TV
  29. https://www.youtube.com/watch?v=P3aCZ7gZ76w Man with big glasses TV advert on YouTube
  30. https://www.youtube.com/watch?v=XOTvZS11zQE Swinton Thunderbirds Commercial on YouTube
  31. https://www.youtube.com/watch?v=Z0I2CrM1i4g Swinton Brains TV commercial on YouTube
  32. https://www.youtube.com/watch?v=8ss6JcK0grQ YouTube link for TV advert featuring John Middleton
  33. https://www.youtube.com/watch?v=urhyVqHwTfU YouTube advert for Swinton featuring The Flintstones
  34. Web site: Final Notice (To Swinton Group Ltd) . . 28 October 2009 . 25 March 2014.
  35. Web site: FCA fines Swinton Group Limited £7.38 million for mis-selling monthly add-on insurance policies – Financial Conduct Authority . . 16 July 2013 . 25 March 2014.
  36. http://www.thejournal.co.uk/business/business-news/swinton-fined-74-million-city-5117471 The Journal article on Swinton insurance fines and customer apology
  37. http://www.comisiynyddygymraeg.org/English/News/Pages/Commissioner-determines-that-Swinton-has-interfered-with-an-individual%27s-freedom-to-use-Welsh.aspx Welsh Language Commissioner's findings
  38. http://www.dailypost.co.uk/news/north-wales-news/swinton-insurance-slammed-commissioner-stopping-7167754 Swinton criticised by Welsh Speaking Commissioner

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