Benetton F1 chief plans sponsor firm

Benetton Formula One marketing director John Postlethwaite is in talks with the late Matthew Harding’s reinsurance company, Benfield, to set up a sports and sponsorship consultancy.

The company’s aim is to challenge major players in the sector, such as Alan Pascoe Associates and International Management Group.

Benfield executives have met Postlethwaite a number of times and sources close to the company say a deal is imminent.

Postlethwaite admits he has met the Benfield team, but adds: “There has been nothing agreed yet. I still have a contract with Benetton.”

A Benfield spokesman says: “The company is interested in expanding into sports. It has a high profile and is looking at getting into a number of different areas.”

Benfield is one of the UK’s top ten reinsurance companies. Last year, it reported pre-tax profits of 30m.

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