Check your calendars… it is indeed 2018, and we didn’t have to wait long for the first major insurance acquisition of the year.
A-Plan Holdings has just announced that it will acquire
Endsleigh from
Zurich with completion coming soon, subject to regulatory approval.
According to a release making the announcement, the insurer will continue to operate as a separate entity with its current management team in Cheltenham. Carl Shuker, Group CEO of A-Plan Holdings, outlined that Endsleigh is part way through a transformation plan that involves a significant investment in IT and insurer and customer propositions – and that means there is plenty of room for growth.
“We are looking forward to working with Jeff Brinley and his team on the next stage of Endsleigh’s development,” he said. “Endsleigh was established in 1965, originally by the NUS, and has a very long heritage in the student market, with unique insights and data – it is a business that we have known well for many years and for which we have huge admiration.”
“This is a really exciting time for us and we’re delighted to be joining such a respected organisation as A-Plan, who continue to deliver impressive results in a challenging market,” added Endsleigh CEO Jeff Brinley. “Our customers, our people, NUS, insurer partners and other partners we work with can be confident that we remain committed to our transformation programme, to looking after our customers and delivering growth in our core markets.”
Zurich UK CEO Tulsi Naidu also chimed in on the deal, wishing the brand the best of luck in its next chapter.
“Over the last year Endsleigh has done an excellent job of transforming its business and tackling the challenges our industry presents, and now is the right time for it to move into new ownership,” she said. “Endsleigh will be part of a well-respected and successful broker business, and will be in very good hands. This is a positive transaction for all parties, including Endsleigh's people and customers, and is a clear demonstration of how we are continuing to simplify our organisation and optimise our portfolio.”
Related stories:
Endsleigh to quit Let business
Endsleigh Insurance Services appoints personal lines head
