Right Choice Insurance Brokers Limited (Right Choice) has purchased the Autosaint, Ladybird and First Van and Motor brands from Fresh Insurance Services Group Ltd (Fresh) for an undisclosed sum. Fresh is a wholly owned subsidiary of Kingfisher UK Holdings Limited (Kingfisher).
The in-force book of business and the team who sell and service the Fresh motor brands, have transferred to Right Choice as part of the deal which comes into effect today.
The acquisition augments the existing Right Choice proposition with a broader footprint and more knowhow in Telematics, Young Driver and Commercial Vehicle. Right Choice’s expertise, particularly in motor insurance, together with its unique proprietary software means that it will be ideally positioned to continue to provide excellent service to Autosaint, Ladybird and First Van and Motor customers.
Jacquie Boast, CEO of Kingfisher, commented: “We are delighted that we have found a new owner for these brands with RCIB, who is a perfect fit for these non-standard books of business. This sale has provided continuous employment for the people that have worked tirelessly to service these clients and will also ensure that our policyholders will continue to receive great service. Kingfisher is a leading specialist and niche insurance group, and these brands did not align to that focus, hence our decision to sell. We have retained the home products and Kingfisher Insurance will continue to provide standard motor and home insurance to our affinity partners, as part of providing a fully-tailored customer solution.”
Mike Joseph, CEO of Right Choice, said: “I am delighted that we have been able to acquire these award-winning brands together with the team, both will bring new strengths and experience to the group, including telematics and commercial vehicle expertise.
Following this transaction, Right Choice will now have offices in both Romford and Redditch and we welcome our Right Choice Midlands team into the family. We hope that this is the first of many acquisitions for Right Choice Group, enabling us to find the best products and prices for every customer’s needs. We thank Kingfisher for their help in achieving a smooth transaction as we do our great team of advisers at Hines Associates and Stephenson Harwood.”