Birthday bonus for Carole Nash

Celebrating 30 years in business Carole Nash (CN) insurance is expecting to declare £1m profit for January-June 2015.

“We enter our fourth decade in a stronger position than ever,” said CEO David Newman, the number bike insurer in the UK. 

Reporting on full year results to 31 December 2014, the company saw pre-tax profits increase to £3,948,558 (2013: £3,934,035) on turnover of  £23,290,293 (£24,814,826). The increase in profits followed a drop between 2012 and 2013, due to the most extreme year of softening motorcycle rates in CN history. 

Developments in 2014 included the first full year trading of Carole Nash Legal Services LLP, a venture with NewLaw solicitors that provides expert legal help to customers. Progress was also made on Future Classic, Classic and Vintage policies. Phil Evans rejoined the 400 staff last year as sales and operations director. 

“We are staying faithful to the principles and objectives set down by Carole Nash when she established the business in 1985, while remaining dynamic and forward thinking,” said Newman who became CEO eight years ago.

CN has achieved growth in policy numbers and market share and now provides cover for 25% of UK motorcyclists and 50% in Ireland. It has 250,000 policyholders on its book.