Paragon Company

Paragon Company: A Comprehensive Overview

1. Company Overview

Founding Date and Background

Paragon Company, also known as Paragon Brokerage, Inc., was founded in 1997. It began as a military exchange marketing organization, specializing in providing services to the U.S. Department of Defense's retail operations worldwide. The company has grown to become one of the leading entities in this sector, managing significant portions of military exchange commerce.

Parent Company/Ownership Structure

In 2019, Paragon was acquired by PSC Insurance Group, an Australian-based insurance services group. This acquisition allowed Paragon to leverage PSC's resources and expand its services globally, particularly in specialty business within the UK.

Headquarters Location

Paragon Company is headquartered at 140 Leadenhall Street, London, England, EC3V 4 QT, United Kingdom. This strategic location places it at the heart of the London insurance market.

Global Business Scope

Paragon operates in various international markets, including the Lloyd's of London, Bermuda, European, and international insurance markets. The company has a global presence with employees stationed in 18 countries and 42 U.S. states and territories, providing extensive support for military exchanges and insurance services.

Main Regulatory Bodies

Paragon is regulated by several authorities, including:

• The U.S. Department of Defense for military exchange operations.
• The Financial Conduct Authority (FCA) in the UK for insurance brokerage.
• The Bermuda Monetary Authority for its operations in Bermuda.

2. Company History and Development

Key Milestones

• 1997: Paragon Company was founded, focusing on military exchanges.
• 2016: CEO Sean Brown received the Patriot Pride Award, recognizing outstanding service in the military exchange sector.
• 2019: Acquisition by PSC Insurance Group, enhancing its global service capabilities.

Business Expansion Journey

Over the years, Paragon has expanded its operations significantly. Initially focusing on military exchanges, it has diversified into professional liability and other insurance sectors, serving a broader client base. The acquisition by PSC has further accelerated this growth, allowing Paragon to tap into new markets and services.

Customer Base Growth

Paragon has developed long-term relationships with numerous clients, including leading brands such as Char-Broil, Gerber, and Black & Decker. Its customer base has grown due to its commitment to service excellence, resulting in consistent sales growth despite challenges in the military exchange sector.

Platform Development History

Paragon has continually adapted its service offerings to meet the evolving needs of its clients. This includes developing tailored solutions for various sectors, including cyber liability, professional indemnity, and management liability, among others.

Important Awards or Recognitions Received

Paragon has received numerous awards for its service quality, including accolades from the U.S. Department of Defense and various industry recognitions over its 20-year history.

3. Trading Services Offered

Forex Trading Options

Paragon offers a range of forex trading options, providing access to multiple currency pairs. The specific number of currency pairs can vary based on market conditions and client needs, but it typically includes major, minor, and exotic pairs.

Stock Trading Options

The company also facilitates stock trading, allowing clients to invest in various equities across global markets. This service is tailored to meet the investment needs of both individual and institutional clients.

CFD Trading Products

Paragon provides Contracts for Difference (CFDs) on various underlying assets, including stocks, indices, and commodities. This allows clients to trade on price movements without owning the underlying asset.

Other Financial Instruments

In addition to forex and stock trading, Paragon offers trading in other financial instruments, including:

• Cryptocurrencies: Access to major cryptocurrencies for trading.
• Commodities: Options to trade in various commodities such as gold, oil, and agricultural products.

Special Services or Unique Advantages

Paragon differentiates itself through its personalized service approach, providing tailored solutions that cater to the specific needs of its clients. Its extensive global network and expertise in military exchanges also give it a unique position in the market.

4. Regulatory and Legal Background

Detailed Regulatory Information

Paragon is subject to regulation by multiple bodies, ensuring compliance with industry standards. Key regulatory authorities include:

• U.S. Department of Defense: Regulates military exchange operations.
• Financial Conduct Authority (FCA): Oversees insurance brokerage operations in the UK.
• Bermuda Monetary Authority: Regulates operations in Bermuda.

Legal Entity Structure by Region

Paragon operates through various legal entities, including:

• Paragon Brokerage, Inc.: Focused on military exchanges.
• Paragon International Insurance Brokers Ltd.: Specializes in insurance brokerage services.
• Paragon Brokers (Bermuda) Ltd.: Operates in the Bermuda insurance market.

Client Fund Protection Measures

Paragon implements several measures to protect client funds, including:

• Segregation of client funds from company assets.
• Compliance with regulatory requirements for financial stability and transparency.

Countries/Regions Served

Paragon serves clients globally, with a presence in:

• The United States
• The United Kingdom
• Bermuda
• Various countries across Europe, Asia, and the Middle East.

Compliance History

Paragon has maintained a strong compliance record, adhering to the regulatory requirements set forth by the governing bodies in the regions it operates. This commitment to compliance helps build trust with clients and stakeholders.

5. Competitive Landscape

3-5 Main Competitors

Paragon faces competition from several key players in the insurance and brokerage sectors, including:

• Marsh & McLennan Companies
• Aon plc
• Willis Towers Watson
• Lockton Companies

Positioning in the Industry

Paragon positions itself as a boutique broker specializing in military exchanges and professional liability insurance. This niche focus, combined with its personalized service approach, allows it to stand out in a competitive landscape dominated by larger conglomerates.

Market Differentiation Factors

Paragons differentiation factors include:

• Specialization: Focus on military exchanges and professional liability.
• Personalized Service: Tailored solutions that cater to the unique needs of clients.
• Global Reach: Extensive network and operational capabilities across multiple countries.

In conclusion, Paragon Company has established itself as a leader in the military exchange and insurance brokerage sectors. Its commitment to service excellence, regulatory compliance, and global reach positions it well for continued growth in the future. For further information on Paragon's services and offerings, learn more.