Brightside Group PLC Directorate Change (6779A)

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RNS Number : 6779A

Brightside Group PLC

24 February 2014

Brightside Group plc

("Brightside", "the Group" or "the Company")

Strategic Overview

Paul Williams joins the Board as CEO

Brightside, the specialist insurance broker, is pleased to announce Paul Williams has today joined the Board as Chief Executive Officer, and to provide his overview of the 2014 strategy.

As announced on 28 November 2013, Paul joins Brightside from Towergate Partnership Ltd, Europe's largest independently owned insurance intermediary writing in excess of GBP2 billion of gross written premiums per annum, where he was a Director on the Retail Executive Committee responsible for all insurer and market relationships across the broking businesses.

Following Paul Williams' arrival, the Company remains focused on delivering compelling customer propositions, significant and sustainable growth and shareholder value. His breadth of leadership experience and market knowledge significantly strengthens the Group's ability to achieve these objectives.

On joining Brightside today, CEO, Paul Williams said: "Brightside has a history of rapid growth with considerable opportunity for further policy and profit growth without the underwriting risk of an insurer. As a new CEO, it is essential to ensure continuity in the implementation of the Company's growth plan.

"Initially, I will focus on a number of key areas to grow the profitability of the book. These will include; negotiating deals with key insurers, expanding our insurer panel and redefining our insurance capacity through the introduction of Delegated Authority and Managing General Agent agreements to augment the Group's income streams. As well as continued strengthening of our validation techniques, which reduce our insurer partners' exposure to fraud, to allow us to offer more competitive rates to our customers.

"In addition, there are several exciting new partnerships planned for 2014, the first of which was announced last week, RatedPeople.com, the UK's largest online trade recommendation service. These partnerships are key to developing our distribution. We will continue to concentrate on markets where we have strength and scale, particularly in the motor and SME arenas where we have developed expertise online and through our UK based call centres. Using our Quote Exchange platform we will use our technological advances to introduce additional niche brands to our portfolio."

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Brightside Group plc

Paul Williams (CEO) +44 (0)1454 63 4194

Paul Chase-Gardener (Finance Director ) +44 (0)1454 634194

Cenkos Securities plc (Nominated Advisor and Joint Corporate Broker)

   Bobbie Hilliam / Harry Pardoe                                        +44 (0)20 7397 8900

finnCap (Joint Corporate Broker)

   Stuart Andrews / Simon Johnson                                   +44 (0)20 7220 0500

Yellow Jersey PR Limited (Financial PR & IR)

Dominic Barretto +44 (0)776 853 7739

Anna Legge +44 (0)774 778 8221

Notes to Editors

Brightside Group plc

With a history of rapid growth, Brightside Group plc, (AIM:BRT) is an insurance broking and financial services group. The Group specialises in delivering market-leading insurance solutions to individuals and businesses. The Group is focused on customer service and operational excellence, adding value for policy holders and business partners alike across all classes of insurance.

Brightside and its associated businesses distribute insurance products online and through UK-based call centres. The Group's insurance activities are complemented by its financial services businesses.

For further information see - www.brightsidegroup.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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