BIZWATCH: PENARTH INSURANCE FIRM GETS BACKING FROM BARCLAYS

Kevin Paterson – MD of Penarth based Source Insurance outside the firm’s premises at 2 Plymouth Road

The Penarth-based firm Source Insurance is to expand – with the help of a multi-million pound  funding package from Barclays Bank.

Source Insurance was established in 1993 and its premises are at Drake House –  sandwiched between the Railway Pub and Penarth Job Centre –  at No 2 Plymouth Road.

The firm provides provides a household and landlord property insurance price-comparison service for independent brokers across the UK.  The new funding arrangements will enable Source to offer customers in-house credit-lines to enable them to pay annual pemiums by monthly instalments

The company – which began life as a software developer – now provides over 20,000 quotes every month and forecasts that next year annual turnover will be in excess of £12,000,000

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Penarth Daily News email address dmj@newsnet.uk . Penarth Daily News is an independent free on-line fair and balanced news service published by NewsNet Ltd covering the town of Penarth in the Vale of Glamorgan, Wales, UK. All our news items are based on the information we receive or discover at the time of publication and are published on the basis that they are accurate to the best of our knowledge and belief at that time. Comments posted on the site by commentators reflect their opinions and are not necessarily shared, endorsed or supported by Penarth Daily News.
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