Hiscox plans 'high pressure' push in Scotland

HISCOX, the insurance provider and Lloyd's of London underwriter, is looking at Scotland to play a key role as it embarks on a further doubling of its UK workforce.

The firm, which offers cover to businesses and high-net-worth individuals, has doubled its UK head-count over the last four years to about 300.

Revenues generated by premiums have grown from a little over 100 million to a projected 360m this year. Much of the expansion has been driven by strong growth in the south-east of England.

The opening of a Glasgow office about five years ago has seen the UK arm of the Bermuda-incorporated group target the Scottish and Irish markets.

Some 15 underwriters are employed in the west of Scotland base, while upwards of 40 people handle the firm's commercial activities from a Glasgow call centre that forms part of Sir David Murray's Response business. Hiscox plans a "high pressure" push into the Scottish business market in the new year, targeting "micro" companies with up to ten employees.

Steve Langan, managing director of Hiscox UK and Ireland, claimed no one was currently "talking to small companies directly".

Speaking after addressing guests at the Albion Dinner hosted by the Marketing Society Scotland, Scots-born Langan said: "There are plenty of small companies offering professional services to other businesses, but the risks are not always well identified. That is where we focus - building specialist products for specific professions."

He said the firm would be "looking to put more mid-office and back-office investment into Scotland", but would not be drawn on numbers.

"Outside London, Scotland is our most important operational base," noted Langan.

"Including the commercial side and Ireland, it will account for about 60m-70m of that 360m annual figure. "