Deal to conclude today
MMA Insurance will complete a deal to buy Halifax-based motor insurer Provident today, Insurance Times understands.
French mutual insurance group Covea, which operates the MMA company, is believed to have reached an agreement with Provident's US-based parent company GMAC.
Provident will be housed within UK holding company, MMA Holdings (UK), which incorporates MMA Insurance, high-street broker Swinton and Gibraltar-based motor insurer Gateway Insurance.
Insurance Times revealed in October that MMA has been negotiating with corporate advisors Goldman Sachs over a £70m deal.
Provident was put up for sale by GMAC in February 2010 after a strategic review of its UK operations.
More to follow.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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