Recession puts brakes on Carole Nash

THE recession put the brakes on profits at motorcycle insurer Carole Nash last year.

The Altrincham-based company said its figures for 2009, which showed profits dipping from £7.6m to £6.17m were ““satisfactory and robust” .
Turnover in the period was of £24.21m, down from (£24.9m in 2008.

Commercial director Simon Jackson said: ““Because for many customers motorcycling is a lifestyle choice rather than, as with motoring, a practical necessity it is much more of a discretionary spend. 

“In the light of the deep recession and accompanying suppression of premiums I am delighted that we’ve secured such a satisfactory and robust performance.

“The underlying strength of the business coupled with new and planned innovations means we are well placed to secure growth as the economy recovers.”

He said the market had responded well to the launch late last year of a ‘Six Wheel’ scheme which allows customers to cover both a bike and a car on the same policy.

Progress is also being made in niche markets such as motorhomes and military vehicles.

He said: “These are natural extensions to the brand as, like with motorcycling, they are enthusiast-led niches requiring specialist attention.”