Policy Master Group Ltd, a West Midlands, UK-based insurance software company , is expected to have a value approaching 20m pounds when it floats on the Alternative Investment Market at the end of this month. The company, which employs 175 staff, increased revenues in the last financial year by 22% to 8.2m pounds and boosted income by 108 per cent to 783,000 pounds. Around 20 percent of revenues come from the international underwriting market where it boasts a list of blue chip clients. With a client base of 750 insurance operations worldwide, the bulk of revenues are produced from the broking market. The company has moved to NT based systems and claims this gives them an advantage over competitors. It also hopes to benefit from a switch from package sales to providing systems tailored to clients requirements. The float will provide a partial exit from venture capitalists Gresham Trust Plc and provide cash for possible acquisitions.
