Finance and Operations
2008 demonstrated continued growth in revenues in line with our
medium term plans that have been in place for a couple of
years.
The weak US Dollar, the currency in which the majority of the
Group’s revenue is denominated, continued to affect the Group’s
revenues until the final quarter of 2008. This means that the
effective exchange rates achieved in 2008 were very similar to
those achieved in the prior year. The benefit of a weaker sterling
will begin to be seen in 2009.
We handle
an annual premium income exceeding $600 million, which is placed
into both the international and Lloyd's insurance markets and
employ approximately 200 people, either directly or indirectly in
our various trading companies.
Like most businesses, the ability of our new business teams to
deliver the high level of service that our clients expect is
dependent upon first class back-office systems and
infrastructure.
We have invested heavily, and continue to invest, in our systems
which are among the best in the market, to give us a competitive
advantage that we put to good use.
Each member of our accounts team is focused on a specific group of
clients / underwriters, so they are familiar with their accounts
and are dedicated to delivering prompt and accurate reconciliation
and agreement of accounts and rapid query resolutions.
All client and insurer money is held in trust accounts and we
account daily, with secure payment of amounts due in all major
currencies.
Tysers complies fully with all Financial Services Authority
regulations, with a substantial margin over minimum capital
requirements.
Click here to
download the Tyser & Co 2008 Annual Report
Click here to
download the Tyser & Co 2007 Annual Report