ChoiceQuote acquired by Groupama
by David Masters
Story link: ChoiceQuote acquired by Groupama
Motor insurance firm ChoiceQuote Insurance Services has been acquired by GAN UK, a subsidiary of Groupama. The cost of the acquisition was not disclosed.
Liverpool-based ChoiceQuote specialises in providing niche and non-standard motor insurance, including insurance for taxis and the motor trade sector.
The group controls premiums of around £25 million, and has offices in Manchester, Birmingham, Glasgow and Leeds.
Groupama have said that ChoiceQuote will operate under the same brand name, and that its senior management team and 79 staff will remain unchanged and operate independently of Groupama’s other UK investments.
François-Xavier Boisseau, chief executive of Groupama UK, said: “This is a strategic investment that gives us access to a number of valuable niche areas where we do not currently participate and also boosts our exposure to on-line trading – an area of particular strength for ChoiceQuote and something that we believe is important in securing access to market.”
Chief executive of ChoiceQuote, Phillip Catterall, added: “I am delighted to have reached this agreement with Groupama UK.
“With their other broking investments in the UK they have demonstrated that they are very supportive shareholders with a very clear vision.
“These are exciting times for ChoiceQuote and I see a very bright future for the company under Groupama ownership.”