In 1993 Tracey Anderson and Alan Wallace were two thirds of a triumvirate that founded IRC, that became a highly successful monoline broking house specialising in all matters to do with credit and non-payment. This business grew both organically and by acquisition and was ultimately acquired itself by a large international broking group at the end of 2007.
IRC had the enviable reputation of being both highly professional and client centric with a vigorous client service ethic – something sadly lacking in many so-called service businesses today. Tracey and Alan were determined that PNP would have these same characteristics. Through employee ownership, complimentary recruitment and investment in people and systems, they have ensured that these principles form the foundations of PNP and its vision of the future.
Alan J Wallace CEO
“This time our commitment is to build around the PNP platform the very best characteristics of traditional brokering, supported by leading edge modern technology with a view to recreating the service culture we had previously ……and then some.
We are building a multi-lines Lloyd’s Broker that is partner owned and managed and is truly independent. We are accountable to our clients and partners in equal measure and this sits right at the heart of our proposition. The new traditions for insurance broking will be built by seeking to employ the best in class, whether it’s individuals or “team by team” or by acquisition of complementary businesses to provide the very best solutions – It’s what we do!”
- Sommerville Cross Ltd was incorporated by Andrew Cross
Sommerville Parker Ltd was formed when London market insurance broker Mike Parker joined the business
- Mark Norfolk joined and the business grew in both revenue and reputation
After an MBO, the business changed its name to Parker Norfolk and Partners Ltd
- PNP became an authorised Lloyd’s Broker
The business was acquired in full by the prominent London broker Miles Smith Group, and continued to operate as one of their subsidiaries
Its entire share capital was purchased by Altra Consultants Ltd, an investment vehicle owned by Tracey Anderson, Alan J Wallace and Maven Capital Partners with the express intention to fund and grow the business and re-establish the name Parker Norfolk in the London insurance market operating across multiple broking disciplines
The business continues to grow, providing broking and advisory services for multiple insurance classes to its clients from offices in London and Birmingham