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An employee-owned insurance firm has been recognised as one of the best companies to work for in Wales.

Thomas Carroll, based in Caerphilly, ranked ninth in the Best Companies to Work For in Wales 2025 list – rising from 18th last year.

It was also ranked as the fourth best insurance company to work for, up from seventh in 2024.

Its success come after becoming an employee-owned company just two years ago, when it handed over the reins to its 181 employees as part of an Employee Ownership Trust (EOT).

Rhys Thomas, the company’s CEO, said: “It is amazing to get this recognition as we celebrate two years of being an employee-owned business.

“At Thomas Carroll Group, we pride ourselves on looking after our colleagues as well as our customers. They are at the heart of everything we do and keeping our colleagues informed, engaged and enthused makes a big difference to the service we can then give our customers.”

Mr Thomas, who has himself been shortlisted for employee owner of the year at the UK Employee Ownership Awards, continued: “A key part of our culture is community, looking after our colleague community and the communities that we work in. This recognition demonstrates that we have created a workplace that epitomises this, empowering colleagues to grow, develop and thrive with us as a business.

“Here’s to 2026 and making the top five in Wales.”

Thomas Carroll was also named as one of the Top 50 mid-sized companies to work for in the UK – marking 18 consecutive years of inclusion in this list. It climbed from number 67 in 2024, to number 44 this year.

This year has also seen the company achieve two-star status, meaning that it is officially an “outstanding company to work for”.

The Best Companies rankings are based on detailed employee surveys, which measure aspects such as personal growth and wellbeing.

Acquisition

Thomas Carroll’s wealth management division has recently been acquired by Titan Wealth, providing a welcome investment into the business.

CEO Mr Thomas said: “The board has decided to divest its wealth management division to Titan Wealth, a trusted partner of ours for many years.  

“The deal allows Thomas Carroll Group plc to focus on its core areas of strength; insurance, risk management, health and safety, and employee benefits.  

“Titan Wealth has a great track record in acquiring and incorporating smaller wealth management firms and investing into these businesses. It has the wealth of expertise, technology, and infrastructure to allow the business to continue to flourish, benefitting both our wealth management team and its clients.” 

The acquisition will see three financial advisors and five client service and account managers transfer to Titan Wealth. Thomas Carroll says the acquisition will allow it to prioritise its strengths, such as insurance and risk management.