Endsleigh Insurance
From Wikipedia, the free encyclopedia
Endsleigh Insurance is a Cheltenham-based UK insurance intermediary specialising in the student and graduate markets. It is the preferred insurer for several unions and professional associations.
It currently employs just over 1,000 staff in 130 branches across the country, the vast majority of these located on university campuses or in student housing areas. It claims to have 500,000 customers.
It currently offers a range of personal finance products including car, home, travel and business insurance together with mortgages and health cover.
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[edit] History
Endsleigh was founded by the National Union of Students (NUS) in 1965 to provide tailored insurance services to university and college students. It then quickly expanded into graduate and professionals markets. Since its founding it has been the only insurer recommended by the NUS and is now the preferred insurance supplier for many professional associations, including the National Association of Schoolmasters Union of Women Teachers, Association of University Teachers and Association of Optometrists.
In 1976 the NUS sold an 86% share to Gouda Insurance International, as it was felt a stronger financial base was needed to fully exploit market opportunities. The NUS retained a 14% shareholding and 2 seats on the board. In April 2002, a management buyout, led by the Managing Director Mike Alcock, bought out Gouda and formed a partnership with Zurich Financial Services. In January 2007 Zurich acquired 100% shareholding.
The company moved into the business market in 2000, and this combined with a 25% increase in customer base helped profits leap from £2.5m in 2000 to £8.6m in 2003. In February 2005 the 'Sunday Times PricewaterhouseCooper Profit Track 100' rated Endsleigh as the 76th fastest growing company in the UK, at 52% a year.
From 1993 to 1996, Endsleigh sponsored the English Football League, succeeding Barclay's Bank and finally being replaced by Nationwide Building Society.
