Equitas, the pounds 14 billion reinsurance company set up to manage
Lloyd’s of London’s old liabilities, has handed its estimated pounds
200,000 PR account to Fishburn Hedges.
The company, which is a rescue vehicle for 34,000 Lloyd’s underwriting
members - or Names - appointed Fishburn Hedges last week after an
extensive trawl of financial PR agencies (PR Week, 26 July).
Of the ten firms initially asked to submit written presentations just
three pitched for the business: Fishburn Hedges, Brunswick and Hill and
Knowlton.
Fishburn Hedges has assembled a team of seven for the account under
directors Andrew Boys and Marc Moninski. It will manage a wide ranging
public relations brief incorporating media relations work, strategic
advice and public affairs.
‘It’s a case of making sure that Equitas’s role is understood and that
it is seen to be absolutely secure, professionally managed and
fulfilling its obligations to Names,’ said Boys. The agency will also
handle internal communications for Equitas’s 700 employees.
Similar work in the US, where most of Lloyd’s claims originate, will be
handled by Omnicom-owned Gavin Anderson. Omnicom also holds a stake in
advertising firm Abbott Mead Vickers which bought Fishburn Hedges in
January.
Provided enough Names accept the plan, Equitas should begin operating in
September. It will assume responsibility for Lloyd’s insurance business
written up to 1992.
