Cornmarket Group acquires 25% stake in Scottish Broker
Signs new agreement to provide car and home insurance products to Scottish Teacher’s union
2 March 2016: Irish broker, Cornmarket Group Financial Services Ltd, through its UK subsidiary, Belfast based Cornmarket Insurance Services, has announced the acquisition of a 25% shareholding in EIS Financial Services Ltd in Scotland. This is Cornmarket’s first acquisition in mainland UK and will provide a strong base for further expansion.
EIS Financial Services was established in 1990 by the Educational Institute of Scotland Teachers Union (EIS), to provide financial services and insurance products to its 55,000 members. EIS Union represents approximately 90% of all Scottish Teachers in primary, secondary and third level education.
In addition, Cornmarket Insurance Services has signed a distribution agreement with EIS Financial Services Ltd to provide car and home insurance products to the Scottish Teacher Union members and their families.
Roddy Murphy, Group Managing Director, Cornmarket said that the new Scottish business would build on Cornmarket’s strong experience in the public sector market in Ireland where the business specialises in the provision of insurance schemes to groups such as teachers and nurses.
“We see this acquisition and distribution agreement as an important step in expanding our footprint into public sector unions and other groups in the UK. This is a very exciting development for the company and we look forward to providing our award winning service to Union members in Scotland,” he said.
The acquisition has been approved by the Financial Conduct Authority (FCA) in the UK.
For further information please contact Joanna Petty, Wilson Hartnell, Tel 01 669 0030 or 086 363 9914
Established in 1972, Cornmarket Group Financial Services is the largest financial services brokerage serving the Public Sector in Ireland.
The Group has worked closely with public sector unions, associations and employers to help them build Group Schemes with tailored benefits to suit the needs of their members, based on their profession. Cornmarket currently administers over 50 union, association and employer endorsed schemes, some of which represent the largest voluntary group schemes in the country.
The “Business Award” in the first Northern Ireland Road Safety Awards was won by Cornmarket Insurance Services!
The awards took place on Friday 27 November 2015 at Cultra Manor which is located at the Ulster Folk and Transport Museum in Belfast and were supported by the the Road Safety Council NI and sponsored by accident management specialist, CRASH Services.
A total of 25 awards were presented across 10 categories and winners consisted of individuals and groups from the business, voluntary, education, emergency service and public sectors.
Cornmarket were recognised for incentivising motorcyclists and drivers to do additional driver training by rewarding them with a motorcycle or car insurance discount if they successfully completed a BikeSafe assessment or an IAM Advanced riding or driving test.
Find out more about the Advanced Drivin/Riding test by visiting iam.org.uk
If you’re a motorcyclist from Northern Ireland, find out more about the IAM Advanced Riding Test by emailing the Cornmarket Advanced Motorcyclists group email@example.com or call 028 9044 2200.
Twenty Cornmarket Insurance Services staff abseiled down one of Belfast’s tallest buildings, the Belfast City Hospital Tower to raise funds for “Friends of the Cancer Centre at Belfast City Hospital”. This is the charity staff nominated for 2015 and have pledged to raise £10,000!
Various upcoming fundraising events include the Belfast City Marathon and an adrenaline filled Santa Skydive, all in the name of a good cause.
Cornmarket Insurance Services – Janette Gill, abseiling down the Belfast City Hospital Tower.
Adelaide Insurance rebrands and expands to accommodate an additional 50 staff in the next 3 years.
Adelaide Insurance Services has recently completed a comprehensive refurbishment and expansion of their Boucher Road premises and is rebranding as Cornmarket Insurance Services.
The Belfast-based broker, which is a wholly owned subsidiary of Cornmarket Group Financial Services, will begin operating under its new name on 18 September 2014.
Sam Geddis, MD Cornmarket Insurance Services
Sam Geddis, managing director at the firm, explained that the changes have come about because of the accelerating growth the company continues to experience in the UK and Irish markets.
“We have had double digit growth rates for a number of years and the trend will continue as we use the combined strengths of our parent company in both name and resources,” he said.
“We are replicating our business model which has a proven success record with many organisations throughout the UK and Ireland. By focusing on the larger UK niche markets, we are confident that we will be successful; therefore we have invested heavily in our infrastructure and will create up to 50 jobs in the next 3 years – this will take the current workforce up to more than 120. Given that we employed only 23 people in 2007, we take great pride in the fact that we managed to grow our business throughout the recession years”, he added.
Adelaide has been recognised as the leading UK insurance provider for “value for money” in 2012, 2013 and 2014 by the Auto Express magazine which surveys over 50,000 readers, and in the same period was awarded the prestigious Business in the Community Big Tick Award and the Aer Lingus Medium Company of the Year Award.
While the company will take on the Cornmarket name, it will maintain the Adelaide brand for its motorcycle scheme which is available across the UK and Ireland. As far as all their other customer schemes are concerned their mantra will be, “same people, same service and same value for money.”
The Prince’s Trust and six of Northern Ireland’s leading companies celebrated the mammoth achievement of collectively raising an impressive £70,660.50 for the charity through its Million Makers Challenge. All the funds raised will help turn around the lives of disadvantaged young people in Northern Ireland.
With the offer of seed funding from The Prince’s Trust, the seven finalists pitted their commercial and creative skills against each other to run the most profitable mini enterprise over the past six months.
Adelaide Insurance, Abbey Bond Lovis, Asidua Software Consultancy, Junior Chamber International, ShredBank, Ulster Bank and a team from The Prince’s Trust programme staff undertook a wide range of activities including organising boxing matches, pub quizzes, abseils and tea parties to maximise the funds donated to the charity.
Adelaide Insurance scooped the top prize raising an astonishing £17,699.80 through White Collar Boxing, a pub quiz, Christmas Jumper day and many more activities.
Sam Geddis, Director of Adelaide Insurance said,
“We brought together a team from our middle management to compete in the Million Maker’s Challenge. It was the perfect opportunity for the whole team to develop their skills and realise their potential in a simulated commercial environment. We had some pleasant surprises along the way with a few “dark horses” coming to the fore demonstrating newly acquired leadership and delegation skills. I am delighted with the outcome, for both The Prince’s Trust and our team members, 75% of whom secured promotions in their jobs over the course of the competition.”
Ian Jeffers, Director of The Prince’s Trust in Northern Ireland said,
“This year’s Million Makers teams have shown an extraordinary amount of creativity and tenacity to raise £70,000 in just six months. This challenge requires lots of enthusiasm and sheer determination which these companies have clearly demonstrated.
“Million Makers is one of many successful joint initiatives we have with the private sector. The importance of this joined-up working cannot be underestimated both in terms of the funds raised to support local disadvantaged young people but also by raising awareness of the many issues that our young people face in daily life.”
If you think your company has what it takes to be a Million Maker, then why not sign up for next year? Contact Arlene Creighton for more information at firstname.lastname@example.org or Tel: 028 9089 5000
Adelaide Insurance shortlisted as Responsible Company of the Year
Business in the Community’s “Responsible Company of the Year Award” is the UK’s longest running and most respected awards, championing responsible business. These Awards are designed for business, by business. Rigorously assessed by business peers from all sectors, the Awards encourage and celebrate the responsible business movement across the UK.
Adelaide Insurance Services has been shortlisted for the Northern Ireland Responsible Company of the Year award.
Jeremy Fitch, Invest NI (centre) presents Sam Geddis from Adelaide Insurance Services with a shortlisted finalist’s certificate for the NI Responsible Company of the Year award. Also pictured are (L-R) judge Ken McKervey, Electric Ireland; Lee-Ann Calwell, Adelaide Insurance Services and James Greer from Ulster Business.
Cornmarket Insurance Services Ltd is a wholly owned subsidiary of Cornmarket Group Financial Services Ltd, which is part of the Great-West Lifeco group of companies, one of the world’s leading life assurance organisations. Cornmarket Insurance Services Ltd is authorised by the Financial Conduct Authority in the UK and is regulated by the Central Bank of Ireland for conduct of business rules.