Private equity lines up Groupama underwriting arm to partner with personal lines broking giant
Private equity is leading the chase to buy Groupama’s underwriting business, while rival insurers are out of the race.
Acromas, backed by private equity firm Charterhouse, is understood to be one of the front runners, as it believes there is huge potential for a tie-up between its personal lines broking business, the AA, and Groupama. Groupama is currently a panel underwriter for the AA.
Private equity firm J.C Flowers is also understood to be one of the potential bidders for Groupama.
Insurance Times understands none of the major insurers – AXA, Aviva, RSA – are currently in the race for the firm.
According to 2010 Companies House accounts, Groupama’s broking arm and insurance business had a book value of around £280m.