Life assurance specialist, Partnership, has again been ranked number one in the Sunday Times PWC Profit Track 100, a league table which ranks Britain’s private companies, with the fastest-growing profits. Partnership is the first company to have headed this league table for the second year in a row.
This follows on Partnership’s previous Sunday Times successes when it was selected as No. 1 in the Sunday Times Deloitte Buyout Track 100, (2012) a league table which identifies Britain’s 100 private-equity-backed mid-market companies with the fastest-growing profits and the Sunday Times HSBC Top Track 250 (2011) league table which identifies the fastest growing mid-ranking private businesses in the UK.
Now in its 14th year, the annual Profit Track 100 league table ranks companies by growth in profits* over their latest three years of available audited accounts.
Partnership out performed well known brands, restaurant operator Cote Restaurants (No.4), auctioneer Bonhams (No. 31); construction equipment manufacturer JCB (No.39) and sandwich shop operator Pret a Manger (No. 85).
Steve Groves, CEO at Partnership said; “At the heart of the company is a fairly simple concept; people with serious medical conditions that shorten their life expectancy should receive higher annuity payments. The friendly society that became Partnership was set up in 1995 on the strength of this idea, which at the time was far from being standard industry practice.”
"Over the last 18 years Partnership has developed a proprietary data base which enables it to make more accurate estimates about life expectancy based on health and lifestyle. This can provide 20% to 40% more income than alternatives that do not take the purchaser’s health into account.
"Partnership’s success is based on its ability to provide improved rates to its customers and its willingness to innovate and find solutions which provide consumer benefits. Partnership was the first company to introduce the ‘impaired annuity’ into the UK. This is a legacy we are extremely proud of and seek to build upon."