RBS-owned motorcycle insurance broker sold to management
RBS Insurance has agreed to sell its specialist motorcycle broker Devitt Insurance Services to the existing senior management team, lead by managing director William Hughes.
The sale, which is subject to FSA approval, will see the management team take control of office locations in Romford and Ipswich, with a staff of 159 people across the two sites.
RBS Insurance's managing director of sales, service and partnerships, Darrell Evans, said: “Devitt Insurance Services is a great business but is one that no longer fits in with our strategic direction.
"William and the team have a great deal of experience and a fantastic reputation in the industry and I am sure that they will continue to build on the success they have enjoyed thus far with Devitt Insurance Services.”
Devitt's Hughes said: “The team and I are delighted to be taking over the company. We have dedicated our time and energy to ensuring that the business is successful and we look forward to continuing that work with the support of our employees, affinity partners and insurer panel.”
The Devitt business predominantly focuses on personal lines insurance products which are distributed under its own brand and its affinity partners.