Monmouthshire Insurance Servicesí Business Sold to Thomas Carroll Group

1 April 2016

On 1st April 2016, the business of Monmouthshire Insurance Services Ltd (MIS), a subsidiary of Monmouthshire Building Society Group, was sold to Thomas Carroll Group Ltd (TC Group), a leading independent UK Insurance Broker based in Caerphilly, South Wales.

With over forty years’ experience in the insurance industry, Thomas Carroll Group is one of the UK’s leading independent provider of commercial and personal insurance, financial planning, health, safety and employment law.

The sale of Monmouthshire Insurance Services followed a strategic review of operations by Monmouthshire Building Society Group, whereby a decision was made to build on the Society’s strong track record and focus on growing its core business.

Rhys Thomas, Chief Executive Officer of Thomas Carroll Group, commented: “We are delighted to acquire the established business of such a well-respected insurance provider. Monmouthshire Insurance Services represents a perfect fit for our organisation.”

He continued: “We service our loyal clients across Newport and Monmouthshire through our office in Hereford, in addition to our offices in Caerphilly, Swansea, Pembrokeshire and London. The acquisition will ensure the same high levels of ongoing support and expert industry knowledge that their customer base have come to expect.”

Will Carroll, Finance Director of Monmouthshire Building Society, commented: “Monmouthshire Insurance Services is an established commercial insurance business and it’s extremely important to know that its valued customers will be served by such a trusted organisation as Thomas Carroll.”

He continued: “Monmouthshire Building Society Group continues to go from strength to strength. Our most recent set of annual results show that in the twelve months to 30th April 2015 we experienced a 7.0% growth, whilst profit after tax reached £5.1m. I have no doubt that the acquisition will strengthen both organisations for the benefit of all our customers for many years to come.”

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