Carole Nash takes market share to 25%
CAROLE Nash, the country’s largest motor cycle insurer, has grown profits by 77% and increased its market share to 25%.
The Altrincham-based firm, which celebrated its 30th anniversary last November, saw a 77% year-on-year increase in pre-tax profits to £7.03m (2014: £3.97m) on a turnover of £26.25m (2014: £22.98m) for the year to the end of December 2015.
It also saw growth in both policyholder numbers and market share, with the business now providing cover for approximately 25% of all registered motorcycles in the UK.
The company, which has 420 staff mostly based in Altrincham, was founded by Carole Nash at the kitchen table of her home in November 1985.
She sold the business seven years ago to French insurer Groupama, but has retained a strong attachment to the business which continues to bear her name.
David Newman, chief executive, said: “Between new propositions, multiple award wins and our trading performance, 2015 was undeniably a strong year for us – a very fitting way to celebrate 30 years since Mrs Carole Nash OBE, DL, founded the company.
“We see the sum of our various successes as further evidence that our model, which is based on placing the customer at the core of everything we do, continues to deliver.”
Since the year end the company has bought Ageas Retail’s motorcycle insurance books, giving it the Express, Kwik Fit Insurance and Green Insurance Company brands and adding 20,000 policies to its book.
