Insurance services provider and marine club manager Thomas Millerheld its first virtual Annual General Meeting at the end of June. It was attended by more than 100 current and past employees. The board also announced that Hugo Wynn-Williams will step down as Chairman of Thomas Miller Holdings in June 2021, but will remain engaged with the business in the newly created role of President.
Although he will step down formally from the board next year, he will continue to look after Thomas Miller’s European interests. Charles Fenton will assume the role of Chairman from that date, while remaining CEO of the TT Club.
The Group reported “an exceptional year”, which was significantly boosted by the sale of its private wealth business. The result was also influenced by two acquisitions in Professional Services and Specialty, as well as the purchase of a book of marine business. Turnover for Thomas Miller was £150m, up from £145m in 2019; annual profit before tax was £25m (2019: £19m).
Thomas Miller said that it continued to be a solid cash generative business and that tit was confident it could retain its operational capabilities, despite Covid-19. It said that its Corporate Plan objectives remained unchanged as it sought to increase the size of its business via a Mergers & Acquisition strategy.