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Daily Insurance Industry News
Friday 25th of May 2018
January 8, 2008

Equity acquires Bike Team

by Gill Montia

Story link: Equity acquires Bike Team

Equity Insurance Group, the UK personal lines insurer, has acquired the entire book of Bike Team Limited.

The latter is a specialist motorcycle broker and the acquisition includes the rights to continue to promote the Bike Team brand.

To this end, Mark and Paul Davies, owners of Bike Team, have agreed to join Equity to assist in developing the brand within the group.

Following completion of the transaction, the business will be transferred to Equity’s Colchester office, which houses its existing specialist bike centre.

Equity currently sells motorcycle insurance under its “insure” brand and also provides a number of insurance schemes for partners, including Harley-Davidson and Triumph.

According to Nick Potts, Equity’s managing director, “Bike Team is widely recognised for providing great value insurance, for the quality of its people and their understanding of bikes and bikers.”

Bike Team Managing Director, Bob Davies, believes the merger will ensure Bike Team’s position as a “leading force” in the motorcycle market and is therefore “great news for all our clients.”

Equity is currently the UK’s 5th largest motor insurer and insures one in three motorcycles in the country.

 

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