News...
Holman's takes back business
Independent Lloyd's broker Holman's is re-entering the syndicate marketing
arena - five years after selling its original business to Cox - and aims to
be the market leader by 2006.
Holman's has appointed four new area managers from HML, the guaranteeing and marketing arm it sold, after Cox announced it would be discontinuing the business last month.
Andrew Holman, chief executive, said; "Cox decided to close HML and we are taking on some of its managers and key staff so we can carry on the marketing under the banner of Holman Marketing."
Lloyd's syndicates no longer require guaranteeing, after rules were relaxed in 2001. This made the business marginal for Cox but Mr Holman added there was still plenty of demand for syndicate marketing.
"We still see the marketing side of this as viable. We are taking on
four area managers from HML, who will start on 1 November, with more in the
pipeline. We will have a nationwide sales team that knows the brokers and
the products. We would like to be the top one or two providers of marketing
services in the next two years."
Post Magazine 28th October 2004
