Carole Nash revs growth with acquisition
CAROLE Nash, the country’s largest motor cycle insurer, is to buy Ageas Retail’s motorcycle insurance books for an undisclosed sum.
The deal will see the motorbike books for Express, Kwik Fit Insurance and Green Insurance Company brands transfer to Altrincham-based Carole Nash adding 20,000 new policies to its existing book.
The policies will be managed by the Carole Nash team but remain under the Express Insurance Services brand.
David Newman, Carole Nash’s chief executive, said: “This is a deal that we’re certainly very pleased to have concluded. Yet another coup for our business, it’s also a fresh statement of our intent to continue to lead the sector through growth in our specialist space and ongoing product innovation.”
Ant Middle, chief executive of Ageas Retail, said: “The decision to sell our bike book was not taken lightly, but reflects our desire to focus on our core brands and markets where we add value for our customers. Our priority is to ensure we continue to meet our customer needs with the best possible proposition for them. We’re confident that through Carole Nash, customers will benefit from their specialist expertise, giving them the peace of mind and protection they need.”
Carole Nash has a turnover of more than £23m and employs 420 staff, which are mostly based in Altrincham, and was founded by Carole Nash at the kitchen table of her home in November 1985.
