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Daily Insurance Industry News
Friday 17th of August 2018
January 16, 2008

Towergate acquires I4CH

by Gill Montia

Story link: Towergate acquires I4CH

Towergate, Europe’s largest independently owned insurance organisation, has acquired Insurance 4 Car Hire Agents (I4CH), an Internet based business that specialises in the provision of car rental excess insurance.

The move will enhance Towergate’s online operations and following completion of the transaction I4CH will form part of the group’s Retail Division.

Towergate describes the acquisition as providing “access to a successful Internet based business where all sales and fulfilment are carried out online” adding that this will help the company to “strengthen its online capabilities and build its expertise further in the distribution of consumer products online”.

Founded in 2002, I4CH offers customers a range of products that provide cover for the high excesses charged by some car rental companies.

I4CH also insures items that tend to be excluded in car rental agreements, such as car windows, tyres, roofs and undercarriages.

Towergate is continuing to expand both organically and through acquisitions.

It currently employs over 3,000 people at its 100 offices and offers around 200 specialist insurance products. Gross written premiums are in the region of £1.5 billion.

 

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