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The Policy Master story is one of the more refreshing success stories of recent years among the insurance industry's ancillary service companies. The icing on its cake has been its flotation on the Alternative Investment Market, which gave it a market capitalisation of 21.2 million.
The offer was many times oversubscribed, managing director, Steve Verrall, tells me. He had been anticipating that it would value the company at between ISm and 20m.
But it wasn't always such plain sailing. Mr Verrall admits that there have been difficult times in the company's 15 year history, and I have no doubt that the presence of two or three major insurers as investors in the company some years ago will...