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Insurance industry

Sedgwick Group Reports Interim Results for First Six Months of 1995

Strategic Insights

— 1 min read

The Sedgwick Group, a leading provider of risk consultancy, insurance broking, and financial services, has announced its unaudited pre-tax profit for the first six months of 1995, rising to 63.1 million pounds compared to 63.4 million pounds for the same period in 1994. Revenue increased by 2 percent to 474.8 million pounds, driven by a 4 percent growth in brokerage and fees in the company's worldwide retail businesses.

Key Takeaways:

  • The company's revenue increased by 2 percent to 474.8 million pounds, with a 4 percent growth in brokerage and fees in the company's worldwide retail businesses.
  • The firm's earnings per share remained unchanged at 7.3p, with an interim dividend of 3.0p per share announced.
  • The company reported a 2 percent increase in brokerage and fees in its U.S. retail business and an 11 percent increase in its U.K. retail business.
  • Sedgwick Payne continued to experience difficulties in the London market, while Sedgwick Noble Lowndes increased profits outside the U.K.
  • The company plans to merge Sedgwick Europe and Sedgwick Payne into a new company, Sedgwick Europe Risk Services Limited, from January 1, 1996, to create a single European insurance intermediary.
  • Richard Titley, the current chairman of Sedgwick Europe, will lead the new company.
  • Sedgwick Noble Lowndes' UK operations will be structured on a regional basis from January 1, 1996.

Statistics:

  • Revenue: 474.8 million pounds (up 2 percent from 1994)
  • Earnings per share: 7.3p (unchanged from 1994)
  • Interim dividend: 3.0p per share (unchanged from 1994)
  • Brokerage and fees in worldwide retail businesses: up 4 percent from 1994
  • U.S. retail business: up 2 percent from 1994
  • U.K. retail business: up 11 percent from 1994
  • Employees: over 260 offices in 64 countries
  • Countries: operating in more than 64 countries worldwide

Sources:

  • Business Wire: August 15, 1995
  • Sedgwick Group Annual Report: 1994
  • Reuters: Insurance Briefing
  • Lloyd's: Reconstruction and Renewal Plan
  • Reuters: Press Release - Sedgwick Group Reports Interim Results 1995

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