Lancaster Insurance acquired by Capita Group
The Capita Group plc has reported that it has acquired Lancaster Insurance Services Ltd.
Lancaster Insurance Services was set up in 1984 and acts as an independent intermediary for selected insurance. The group specialises in offering insurance for classic cars, and also provides general motor insurance, home insurance and travel insurance.
Lancaster will now be working alongside Capita Group’s intermediary firm BDML.
BDML offers personal insurance, motor insurance, home insurance and pet insurance, as well as insurance for SMEs. They usually provide services under the brand names of one of their partners, which include esure, Norwich Union, and Admiral.
BDML’s managing director, Mark Townsend, said of the acquisition: “While Lancaster works with many of the same major insurers as BDML, there is very little overlap between the products and policyholders the two companies share, providing an ideal environment for the provision of additional products and services to both sets of customers. Between them BDML and Lancaster can offer virtually every type of insurance required by both personal and SME customers and the added functionality, broader expertise and economies of scale that the acquisition will produce will also make the new, enlarged business highly attractive to insurance providers.”
Lancaster’s managing director, Bill Godsell, added: “Joining forces with Capita represents a great opportunity for both our insurance industry clients and our staff. We are fully committed to maintaining the focus that we have on specialist expertise and service excellence and being part of Capita will allow us to further enhance the value we offer in these areas.”
Category: Companies News, Financials
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