The History of Thomas, Carroll (TC)

This History is a little unconventional in that it is not in any chronological order. Such is the nature of the Company that it requires a close examination of the business today in order to understand and appreciate its history. With a pack of four pseudo-autonomous divisions, the Thomas, Carroll Group (TCG) presents to the world a diverse yet all-embracing risk management capability for private commercial, and corporate customers: with advice provided by professionals of the highest abilities, backed by a wealth of education, qualification and experience.

Thomas, Carroll Management Services (TCMS) is the most recent addition to the Group, revolving around two Oxbridge rugby players, who met whilst in opposing teams at Twickenham and found they had something in common: to inflict as much punishment and knock the breath out of each other in the name of sport. Kevin Price and Richard Pask were recruited in 2006 from competitors Willis. TCMS, with its OHSAS 18001 accreditation, uniquely offers Health and Safety and Human Resource advice to a wide and diverse clientele that include hauliers, bakers, museums and local authorities.

The ever changing world of financial services has required an intelligent response within TCG and nowhere more so than in Thomas, Carroll Independent Financial Advisers (TCIFA). Mark Eedy joined in 2000 as the new managing director. Mis-selling in this branch of the insurance industry had reached much publicised levels and the Financial Services Authority (FSA) now demanded a professional and compliant philosophy to eradicate the former problems associated with endowment and pension policies, and a meticulous and compliant regime was required. The success in implementing these wholesale changes was recognised in 2007 with TCIFA attaining Chartered status.

Thomas, Carroll Private Clients, (TCPC) provides top-line service for the elite among personal lines insurance customers. Alison Davies joined as managing director in 2003 from HSBC, bringing a wealth of experience in this particular discipline, recognising the need for special service and advice to these customers, the majority of whom have connections with TCG with their commercial and corporate insurance portfolios.

The commercial and corporate insurance division of TCG is Thomas, Carroll (Brokers) (TCB), is headed by Rhys Thomas, son of founder Evan Thomas. This has been the core of the business since its foundation in 1972. It has developed over time to become the dominant commercial broker in the region, attracting quality staff from competitors, who in turn add to the broad variation in disciplines.

This is all far removed from the first days, opened by Evan Thomas and Terry Carroll in offices in Queens Arcade, Cardiff on 1st October, 1972, with their respective wives Anne and Delma. Sadly, within five years Terry had died. However, local offices were soon established in Caerphilly (on the 'Picc'), in Pontypridd, and in Llanishen. These were made possible by acquiring other broking businesses, with their staff. This acquisitive philosophy was adopted quite early on in the life of TC and, over a period of time, absorbed many businesses.

As well as increasing the client bank, this strengthened the workforce to form, what was at the time, the largest independent broker in Wales. An organisation of such size required procedures and systems in place to deal with our customers effectively, fairly and efficiently, and this was achieved by implementing the ISO 9000 standard in 1994, and later in 1998, the Investor in People designation. The headquarters had moved, in the meantime to St.Andrews Place in Cardiff, but it was soon realised that the business's expansion would require larger premises. The Caerphilly branch moved into a newly built Pendragon House in 1998, to transact all the Personal Lines business, along with the IFA division. The local branch offices were dismantled, and after a temporary home was found in an extended Llanishen office for the Commercial Division, this too moved into Pendragon House, once Phase Two had been built early in 2001.

The culture of acquisition in all areas of the insurance marketplace has seen the demise of many established insurer and broking houses. The Consolidators have often opened their cheque books in an attempt to lure TC into their fold. But we remain steadfastly independent, rejecting all approaches, and, in turn attracting the right people to join.

The world of insurance has always been cyclical; revolving with hard and soft rates; insurer's local presence or absence; and conducting business on one or multiple sites. Thomas, Carroll has developed from one location in 1972, to five in 1994, back to one in 2007, and now, with Swansea and Brecon offices opening, back to three in 2009. This latest expansion to spread the TCG culture to the west and mid Wales regions requires us to continually strive to recruit quality people and acquire quality businesses to take the Group to the next level.

In 2002 Thomas, Carroll joined Unitas, an alliance of fiercely Independent brokers, gaining UK coverage and substantial buying power.

Ray Dickens
Director
Thomas, Carroll Group plc
December 2009