5:24pm Thursday 5th August 2010
By Richard Garfield
FARMING is the bedrock of a business that opened new offices just outside Basingstoke this week.
Lindsay Sinclair, chief executive of NFU Mutual, opened the rural insurer’s Basingstoke agency offices, run by Stephanie Bray and James Gatward.
The pair previously ran the agency in Overton, at Upper Whitehill Farm, before moving to The Coach House, Dummer – conveniently close to junction seven of the M3 – at the end of last year.
Despite challenging and difficult economic conditions, Lindsay, who joined NFU Mutual as chief executive in 2008, saw the company meet a new milestone in 2009, when it passed £1 billion in premium income, posting a £274m profit compared to a £453m loss in 2008.
He was upbeat and confident for the future growth of NFU Mutual and its Basingstoke agency, and was impressed with its 3,293 sq ft offices in the listed building.
Lindsay, the former head of ING Direct’s UK operations, said: “When I joined two years ago, almost to the day, I came to visit Stephanie and James at their previous offices, and now two years later they have new and bigger premises, reflecting the overall growth of our business. I think this is going to be a good year for us – things are going very well. Last year, in our centenary year, we achieved what for us was a big milestone, against a background of a very difficult market.”
Enjoying a close relationship with the National Farmers’ Union, NFU Mutual has more than 300 offices around the UK.
In 2008, NFU Mutual received the British Insurer Awards General Insurer of the Year accolade and a Customer Service Prize, which has been attributed to the care it showed to customers who suffered from the 2007 floods.
“We’re based on the farming and rural community, which is at the heart of our business and it’s our heritage,” said Lindsay.
“We were started 100 years ago by seven farmers and I think in that 100 years, we have prospered because we have stayed true to the founding philosophy, as we’re owned by our mem¬ bers and we’re going to stay mutual.
“And I think that we are a business that has a philosophy of providing our members with the insurance cover they need – we understand their businesses really well, offering insurance at a fair price and with first class service, and I think these days that sort of business model has tended to disappear from financial services.”
Stephanie and James attribute their success to providing very high standards of customer service and building long-lasting relationships with their clients.
Stephanie said: “Our customers feel that dealing face-to-face with the local office is much more personal and tailored to suit their insurance requirements.”
While the rural community remains at the core of the agency’s business, the firm is keen to reach out to the wider community, offering personal, car, house and travel insurance as well as investment services.
Stephanie said: “We relocated to allow us to provide better facilities to meet our clients’ needs and to allow us space to grow and take the agency forward.”
At the official opening, attended by farmers, landowners, estate representatives and business people, Stephanie thanked NFU Mutual and clients for their support.
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