Manchester-based Principal Insurance is speeding up its expansion with an impending move to a new headquarters capable of housing a bigger workforce.
The fast-growing insurer will move next month to Citygate, a revamped building located just a few hundred yards away from the company’s existing head office in Sale, the Manchester Evening News
The new headquarters is three times the size of the present office and will fit the needs of the insurer’s growing workforce that has doubled in the past 18 months, according to the report.
Principal Insurance is expecting to open 30 new jobs within the next two years, increasing the Manchester staff to 70.
The insurer would also create more roles at its Dublin offices and specialist motor broking unit in Lancaster.
“Our growth has been sustained and impressive, putting us well ahead of the five-year plan we’d mapped out,” managing director Dave Bowcock told the Manchester Evening News.
“That’s meant that we’ve been able to create jobs at a faster pace than expected which has in turn created a need for greater office space,” added Bowcock, who founded the company in 2011.
Principal’s planned relocation follows this month’s purchase of A&A Group’s Complete Bike Cover motorcycle book, the company’s third acquisition in 2016.
The transaction brings more than 2,000 motorcycling policyholders to Principal, which also acquired BikeTeam from iGo4 and Simply Insurance’s motorcycle book earlier this year, according to the Manchester Evening News.
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