Acquisition of £25m GWP niche motor broker boosts insurer's online trading capabilities
Groupama's GAN UK subsidiary has acquired nice motor insurer, ChoiceQuote Insurance Services, for an undisclosed sum.
ChoiceQuote controls premiums in the region of £25 million and focuses on niche and non-standard motor covers, with specialisms in the taxi and motor trade sectors. The insurer bought specialist motor broker Carole Nash in December 2006.
In a statement Groupama said that ChoiceQuote would retain its brand, senior management team and would continue to operate independently of Groupama’s other UK broking investments.
The company is headquarted in Liverpool and has offices in Manchester, Leeds, Birmingham and Glasgow. It employs 79 staff.
Chief executive of Groupama UK, François-Xavier Boisseau, said: “This is a strategic investment that gives us access to a number of valuable niche areas where we do not currently participate and also boosts our exposure to on-line trading - an area of particular strength for ChoiceQuote and something that we believe is important in securing access to market.”
ChoiceQuote chief executivee Phillip Catterall said: “I am delighted to have reached this agreement with Groupama UK. With their other broking investments in the UK they have demonstrated that they are very supportive shareholders with a very clear vision. These are exciting times for ChoiceQuote and I see a very bright future for the company under Groupama ownership.”
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