Motorcycle insurance specialist Carole Nash Insurance Consultants has started to expand into the motor insurance market on the back of positive 2003 results.
The company said it saw sales leap 25% to £18.9m for the year ending 31 October 2003, up from £15m in the previous year. Pretax profits rose 21% from £1.18m to £1.42m.
Carole Nash said it had begun actively cross-marketing motor policies to its customer base of nearly 250,000 policyholders.
Managing director Damian Keeling said: “Nearly 10% of all new business in the current financial year has come from cars, and 90% of that business from existing policyholders. Clearly the potential for growth is substantial.
The expansion of the company’s motor division follows its entry into the classic car market. It also offers travel policies specially tailored to meet the needs of touring bikers, said Carole Nash.
