Thomas, Carroll Group plc, the Welsh insurance broking, health & safety and financial services provider has announced an investment programme in its Property Risk Services division, as it predicts a tentative but sustainable recovery of the commercial property market.

Operating a property protection facility for clients throughout the UK, with nearly
£2billion currently under cover, Thomas, Carroll Property Risk Services has commenced its expansion with the appointment of a senior insurance industry property specialist backed by a marketing campaign to property investors in both Wales, and the South West and South East of England. 
 
Initial investment in the expansion is set to approach £200,000 through a combination of staff recruitment and above and below-the-line marketing spend.

Announcing the move, Paul Gardner, head of Thomas, Carroll Property Risk Services said:
 
"We are beginning to see increased activity on our books, with a 7.9% rise in business activity, not just in England but recently in Wales where dormant foundations of suspended construction projects are starting to rise again.  By investing now in good people, we will be in a stronger position to react quickly as more developers re-enter the market as speed of response from insurers is pivotal when putting often complex property deals together."   

The facility commenced in 2000 and established as a separate division of the Group in 2008 to provide clients in Wales with a property insurance facility equivalent to that enjoyed by City of London based private and institutional investors.

Joining Thomas, Carroll, which provides risk management and associated health & safety and financial planning and legal services to its property clients, is Michael Learoyd who has moved over to the Caerphilly-based group after a 33-year career with main insurer Royal Sun Alliance.

A Fellow of the Chartered Institute of Insurance and an experienced surveyor, Mr Learoyd has operated throughout regional property markets including London and the North West as well the South West and Wales.                                               

Mr Learoyd said of his new role: "Any surprise at Thomas, Carroll's proactive investment programme at a time of uncertainty in the market will diminish over coming months as recovery levels mount and property investors come out of their economic hibernation.  

We are already experiencing increased business levels with investors attracted to our holistic approach of risk management services in the broadest sense covering everything from the land planning stage through to construction and the operation of the building."