A Caerphilly-based finance and insurance firm has announced a £200,000 expansion in its property risk services division.
Thomas, Carroll Group has begun its expansion with the appointment of a senior insurance industry property specialist and said the expansion would also mean new jobs.
It predicts a tentative, but sustainable, recovery of the commercial property market and has backed the expansion with a marketing campaign.
Paul Gardner, head of Thomas, Carroll Property Risk Services, said: “We are beginning to see increased activity on our books, with a 7.9% rise in business activity, not just in England but recently in Wales where dormant foundations of suspended construction projects are starting to rise again.
“By investing now in good people, we will be in a stronger position to react quickly as more developers re-enter the market as speed of response from insurers is pivotal when putting often complex property deals together.”
Thomas, Carroll Property Risk Services currently provides cover for £2billion worth of property investments.
Joining to head up the expansion is Michael Learoyd, who has moved to the Caerphilly-based group after a 33-year career with main insurer Royal Sun Alliance.
A Fellow of the Chartered Institute of Insurance and an experienced surveyor, Mr Learoyd said: “Any surprise at Thomas, Carroll’s proactive investment programme at a time of uncertainty in the market will diminish over coming months as recovery levels mount and property investors come out of their economic hibernation.
“We are already experiencing increased business levels with investors attracted to our holistic approach of risk management services in the broadest sense covering everything from the land planning stage through to construction and the operation of the building.”