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Daily Insurance Industry News
Monday 15th of October 2018
February 15, 2010

Kwik Fit Insurance: sale under consideration

by Gill Montia

Story link: Kwik Fit Insurance: sale under consideration

The Kwik-Fit motor repair group is reported to be considering selling its insurance business, which includes Kwik-Fit Insurance, the Green Insurance Company and Express Insurance.

According to The Sunday Times, the company, which is backed by French private equity firm PAI, may raise over £200 million from a sale that would be aimed at reducing group debt.

Kwik Fit Insurance was launched in 1995 and has since gained a reputation for strong growth and investment in its staff, which currently number over 1,000.

Only last week, the Lanarkshire-based firm reported its strongest every sales in 24 hours, with over 2,000 new policyholders signing up to the Kwik Fit Insurance brand.

Sales of new car insurance policies exceeded 1,600, alongside 400 new home insurance policy sales.

Last year, the firm won the Investment in People award at the UK Broker Awards and was ranked 17th in the Sunday Times 100 best companies to work for list.

 

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