Insurer decides to keep motorcycle broker
Groupama has decided not to sell Carole Nash as it intended.
The Altrincham-based motorcycle broker will remain part of Groupama’s UK broking arm, GUK Broking Services.
In a statement, Carole Nash chief executive David Newman said: “We feel this decision reflects the value Carole Nash offers to its shareholder. In recent years, we have grown and sustained profitability in what have been exceptionally tough market conditions.
“This year, despite the considerable distractions created by the possibility of sale, we have again moved the business forward, beating both volume and financial targets. That is to the great credit of an exceptional management team and the dedication to both business and customer of our 300 employees.
“It is totally understandable and indeed welcome that Groupama has taken the decision to retain what is a terrifically stable and successful brokerage. We look forward now to building further success, not just through our core motorcycle business but initiatives such as our new cherished cars division.”
GUK Broking Services also includes broker Bollington, which is still keen on a management buy-out.
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