Brit Insurance Holdings has tripled its shareholding in broker Peoples Choice – bringing its total investment in the company to more than £10m.
Specialist insurance and reinsurance group Brit has taken almost total control of Leicester-based Peoples Choice after raising its stake in the firm from 27% to 82%.
Neil Eckert, chief executive of Brit, said: “We now cover the high street, through our network of Wren offices, and the armchair customer through the internet and telesales capability of Peoples Choice.
He added that Brit intended to increase the number of relationships People Choice has with insurers.
Peoples Choice employs more than 320 people and has 128,000 policyholders for motor, household, travel, personal accident other personal lines business.
Its gross written premium for 2000 was £54m and is expected to increase to £85m this year. Brit also owns US insurance portal Ebix.com.