Kingfisher confirms Fresh brands-sale to Right Choice
The sale includes Fresh-brands Autosaint, Ladybird and First Van.
Right Choice Insurance Brokers has purchased the Autosaint, Ladybird and First Van and motor brands from Fresh Insurance Services Group for an undisclosed sum, Insurance Age can reveal.
The in-force book of business and the team who sell and service the Fresh motor brands, have transferred to Right Choice as part of the deal which comes into effect today (20 April 2021).
Footprint
According to a statement, the acquisition augments the existing Right Choice proposition with a broader footprint and more knowhow in telematics, young driver and commercial vehicle. Right Choice’s expertise, particularly in motor insurance, together with its proprietary software means that it will be able to continue to provide service to Autosaint, Ladybird and First Van and Motor customers.
Jacquie Boast, CEO of Kingfisher, commented: “We are delighted that we have found a new owner for these brands with RCIB, who is a perfect fit for these non-standard books of business. This sale has provided continuous employment for the people that have worked tirelessly to service these clients and will also ensure that our policyholders will continue to receive great service.
“Kingfisher is a leading specialist and niche insurance group, and these brands did not align to that focus, hence our decision to sell. We have retained the home products and Kingfisher Insurance will continue to provide standard motor and home insurance to our affinity partners, as part of providing a fully-tailored customer solution.”
The sale, first tipped by Insurance Age, comes amid an ongoing legal battle between Kingfisher and the sellers of Fresh Insurance.
Strength
Mike Joseph, CEO of Right Choice, said: “I am delighted that we have been able to acquire these award-winning brands together with the team, both will bring new strengths and experience to the group, including telematics and commercial vehicle expertise.
“Following this transaction, Right Choice will now have offices in both Romford and Redditch and we welcome our Right Choice Midlands team into the family. We hope that this is the first of many acquisitions for Right Choice Group, enabling us to find the best products and prices for every customer’s needs.
“We thank Kingfisher for their help in achieving a smooth transaction as we do our great team of advisers at Hines Associates and Stephenson Harwood.”
For all the latest industry news direct to your inbox, sign up for our daily newsletter.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
ERS and Acturis team up on full-cycle API car product for brokers
Acturis and specialist motor insurer ERS have launched an API based car insurance product for brokers on the software provider’s platform which replaces legacy EDI messaging.
People Moves: 30 May – 2 June 2023
Stay in the loop with the latest personnel moves in insurance.
Brokerbility adds A-One as member
A-One Insurance Group has joined Brokerbility, becoming the first member to sign up after the network unveiled a refreshed proposition in April.
Ardonagh expands into Greece
The Ardonagh Group has signed up to buy a majority stake in Athens-based SRS Group of Companies.
Markerstudy maintains motor capacity amid Italian insurer cutbacks
Markerstudy-owned Clegg Gifford has maintained its capacity with insurer Unipol, although uncertainty remains about the Italian provider’s commitment to the UK market.
Jensten Group buys up Coversure member
The Jensten Group has bought the Coversure Poole Group for an undisclosed amount.
Interview: Melissa Collett
Melissa Collett left the CII at the end of May. A champion of professionalism and customer fairness, she has some wise words for an insurance industry on the brink of change.
Verisk targets brokers and MGAs with Morning Data buy
Global data analytics and technology provider Verisk has bought Morning Data, a supplier of software to brokers and managing general agents in London and across the world.