Brightside Group
| Company type | Public (LSE: BRT) |
|---|---|
| Industry | Insurance & Finance |
| Founded | 2005 |
| Headquarters | Bristol, UK |
Key people | Arron Banks, Insurance Director, Paul Chase-Gardener, CEO and Finance Director, John Gannon, Commercial Director Dr Chris Faye, Non-Executive Chairman |
| Website | www.brightsidegroup.co.uk |
Brightside Group Plc (LSE:BRT) is an insurance broking and financial services business. The company was founded in 2005, is based in Bristol and regulated in the United Kingdom. The company positions itself as “one of the fastest growing insurance broking and financial services businesses in the UK” [1]
Company description
Brightside PLC is a publicly traded company on the London Stock Exchange Alternative Investment Market with a symbol of BRT. Its initial public offering was on 27th June 2008. The company is regulated by the Financial Services Authority (FSA). In June 2008 a reverse takeover took place between Aust Holdings Limited and Brightside Group Plc. Brightside Group Plc acquired Group Direct and its associated companies, changing its principle business activity from financial rehabilitation solutions to insurance broking [2] . In the same deal Brightside Group acquired Injury QED which provides solicitors with medical reports for personal injury claims [2].The Brightside acquisition included a strategic investment from Aviva-owned insurer Norwich Union and Swedish based Stena Investments. For the six months ending June 2008 revenue grew 39% from £11.2m in 2007 to £15.6m [3].
On 1st April 2009, Brightside Group released their Preliminary Results for 2008 (unaudited):
- Profit from continuing operations increased by 182% to £6.2m in 2008 (2007 £2.2m)
- Revenue increased by 42% to £33.2m in 2008 (2007 £23.3m)
- EBITDA before exceptional items and share option charges increased by 74% to £7.5m in 2008 (2007 £4.3m)
- Earnings per share on profit from continuing operations increased by 111% to 2.24p in 2008 (2007 0.98p)
- Insurance broking customer base increased from 131,254 in 2007 to 149,381 in 2008
- Premium finance loans processed increased from 100,544 in 2007 to 137,335 in 2008
Brightside Group incorporates Group Direct businesses [4]:
- Commercial Vehicle Direct
- One Business Insurance
- Motor & Home Direct
- eVan Insurance
- Panacea Finance
- Quota Marketing
- Debt Help
- Injury QED
The group's key insurance areas are van, taxi, business, home, car, motorhome, minibus, caravan, property, tradesman and corporate.
Key Partners
- eGroup an online insurance company for car, motorbike, van and home insurance products
- Southern Rock Insurance Company Limited writes motor insurance business and exclusively underwrites all eBike, eCar and eVan insurance products
- Conister Financial Group, a financial services institution based in the Isle of Man
- Head Office based in Cardiff provides human resources and health and safety solutions throughout the UK
- New Law provides personal and business legal solutions [5]
References
- ^ Brightside Group website
- ^ a b "NU supports Group Direct's reverse takeover of Brightside". Insurance Daily. 2008-06-03. Retrieved 2009-06-25.
{{cite news}}: Unknown parameter|authro=ignored (help) - ^ "Brightside 1H figures enable it to look on the bright side". Insurance Day. 2008-09-30. Retrieved 2009-06-25.
- ^ Brightside Group website
- ^ Brightside Group website