Frizzell Insurance Background
Frizzell Insurance UK was set up as a family business and founded by Tom Frizzell back over 100 years ago in 1923. They helped serve the needs of members of various associations; Civil Service, CSMA, Local Government and various Unions during its existence.
Frizzell and CSMA
Frizzell Insurance became one of CSMA Club’s first partners soon after it was founded. Tom Frizzell CEO felt that this new motoring club was worth writing a special insurance scheme for. The story goes that he said that while he thought the CSMA would start in a small way, he saw a future potential membership of more than 50,000.
On hearing this, some committee members smiled quietly to themselves. In 1923, there were still more bicycles than cars on the roads. The members thought that the Association would be lucky to get more than about 400 members in total !
Frizzell was soon providing cheaper motor insurance for those first CSMA members. It proved to be a mutually beneficial and highly successful partnership being customer focused.
They went on to become a general insurance brokerage focusing on household and motor underwritten insurance cover & gaining various customer service industry insurance awards.
Frizzell later diversified into both banking and also general financial advice and were always looking for opportunities to promote their unique family named brand.
They sponsored for a while various sporting events such the Frizzell Cricket County Championships & also their local team Bournemouth AFC Football Club.
Frizzell Insurance UK & Marsh Mclennan
After weathering the economic recession of the early 1990s, in 1992 the Frizzell family sold the entire Frizzell Financial Services group to Marsh McLennan, the US insurance broker and investment manager for about £107 million.
By then, it was also one of the largest private employers in the Dorset area with over 1,600 staff, and was reportedly the UK’s largest Insurance Company ‘still privately owned’.
Frizzell Insurance & Liverpool Victoria Insurance
However, just a few years forward to 1996, the Bournemouth-Poole based financial services company ‘Frizzell Insurance’ was acquired by the Liverpool Victoria (now LV=) group of companies.
Founded in 1843, LV= became one of the UK’s largest member owned friendly societies. They reportedly acquired the Frizzell Group, in order to continue the momentum of their own success. They felt it was a good fit, with the philosophies of the companies blending well.
Liverpool Victoria decided to move their main head office focus down south in the 90’s to occupy the unique designed LV Frizzell House, their former main offices just outside Westbourne, on the County Gates Gyratory. The locals still call it the ‘Frizzell roundabout,’ although the nostalgic insurance brand was quietly dropped LV Frizzel.
Colin Frizzell Obituary
The Bournemouth Daily Echo newspaper advised in May 2015 that COLIN Frizzell, the former chairman of Poole-based insurance and financial services firm Frizzell Group had sadly died aged 76.
Mr Frizzell, who was born in 1939, was an avid golfer and a member of Lloyd’s Golf Club, a club associated with Lloyds of London.
He had served the golf club as Captain and President, and was also a member of the prestigious Swinley Forest Golf Club, the Senior’s Golfing Society and St Andrews.
Mr Frizzell did alot to involve their company with various community causes, supporting a huge number of charities with financial contributions, and getting his staff involved with fundraising events.
They commented that the sale back then to US insurance giant Marsh McLennan was a move which made the Frizzell family one of the 200 richest in the UK.
He remained in his role of chairman, before the company brand was sold again to present owner LV Frizzel Insurance name slowly disappeared. The family finally retired to Berkshire, setting up a charitable trusts to help various causes.
LV= Takeover Story in the 2020’s
In 2020, Allianz took over Liverpool Victoria general insurance. At that stage, they de-registered its status as a friendly society although still staying a mutual.
In summer 2020, LV= were assessing putting themselves up for sale and Royal London were an initially interested competitor for the deal. They registered their interest as a fellow mutual insurer, thus prompting a potential mutual tie up.
Royal London remained a quiet suitor still in the background, again thus prompting a future potential new ‘London Victoria Insurance’ or Royal Victoria mutual brand ?
Financial Advisers had also argued that any deal links with Royal London, would then maybe create less consumer choice and fewer mutual’s? This business situation is therefore currently ongoing in 2020’s.