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General & Medical Securities Ltd is the parent company for the group providing the stability required in today’s ever-changing markets to ensure all companies in the group can remain proficient and competitive in their various sectors. All companies in the group are wholly owned subsidiaries of General & Medical Securities Ltd.
Established in the 1980’s, General & Medical initially provided Finance and Insurance services to UK medical and other professionally qualified clients, specializing in offering innovative equipment leasing and loan packages with associated insurance services. The company successfully weathered the economic downturn in the UK in the early 1990’s and continued to grow and by the year 2000 with future development in mind General & Medical Securities Ltd was formed to be the parent company of the Group.
General & Medical House in Peterborough was purchased in 2004 to be the principal UK office for the group enabling a more focused approach to the development of the services offered to clients from a central and easily accessible base.
The Group continues to evolve and has consistently exceeded its projected targets year on year. This could not have been achieved without responding to the market, listening to our clients and developing products and services to meet their needs and exceed their expectations. The insurance services offered to clients have been particularly successful and have grown to dominate the activity of the group. In the early days the insurance services were mainly underwritten in the Lloyd’s market but as time passed with the growth of the medical insurance business, by the mid-2000’s it was decided the time was right to underwrite much of that risk within the Group.
General & Medical Insurance Ltd was formed in 2006 in Guernsey to underwrite the majority of the medical insurance products sold in the UK by the General & Medical Group.
From this solid foundation we have built up comprehensive insurance underwriting experience, so we are ready and capable of meeting any and all future challenges. In 2010, the Group acquired Revelation Healthcare Ltd, a specialist provider of Healthcare Trust services. This was an important step forward for General & Medical as it significantly expanded our client base and penetration of the Healthcare Trust market. Since then, Revelation Healthcare has been fully incorporated into our specialist administration and cost containment company, ProAmica Ltd.
In addition, the expansion of our client services capability has been kept in tune with our marketing activities and business levels to ensure that our service mirrors the quality of the products we sell. We anticipate similar growth of the General & Medical Group in the medium to long term and we are well placed for this in both our healthcare and our trust businesses.
In 2012, General & Medical became a full member of the Managing General Agents’ Association (MGAA), a formal recognition that the General & Medical Group are capable underwriters of insurance risks, for itself and others, with links to one or more insurance companies including Lloyd’s syndicates.
Never compromising customer service or stability for our existing clients, General & Medical look to the future, continually developing innovative products and services for businesses, groups, associations, families, and individuals.
In 2017 General & Medical became an accredited Lloyd’s Broker which allows us to provide significant benefits to our clients and broker partners both in the UK and globally.
To further increase our competitive position, we continue to make subtle organizational and structural changes by establishing new divisions and/or subsidiaries from time to time and by constantly reviewing our products to meet market demands. Our strength and our planning disciplines underpin the continued growth of the General & Medical Group, which remains an independent family-owned business.
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Contact us today to find out about our available products and to see how we can help you with your insurance or reinsurance requirements.