The Capita Group today announces the acquisition of specialised motor insurance broker, Sureterm Direct. The acquisition will add greater capacity, new policy types and around 75,000 new policyholders to Capita Insurance Distribution, Capita’s insurance intermediary and administration business.
Sureterm is a personal lines broker offering insurance for classic cars, motorhomes and 4x4s and it operates in a number of areas which complement Capita Insurance Distribution’s existing brands, Lancaster and Hero. This acquisition will allow Capita Insurance Distribution to align its classic car insurance business with its other operations, increasing the efficiency of its services to customers.
Mark Townsend, managing director of Capita Insurance Distribution, said: “To be able to welcome an established name such as Sureterm Direct to our business is a great development. This will enable us to add new product lines to our portfolio, providing our existing and potential customers with further choice and value.”
Sureterm employs 141 staff, principally in Huntingdon, Cambridgeshire.
Andy Wood, managing director of Sureterm Direct, said: “Joining forces with Capita represents a great opportunity for our insurance industry clients, our customers and our staff. We are fully committed to maintaining the focus that we have on specialist expertise and service excellence. Being part of Capita will allow us to further enhance the value we offer in these areas.”
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For further information, please contact:
Capita Press Office, 0207 654 2399
Capita Insurance Distribution, part of Capita Insurance Services, is the fifth largest UK personal lines insurance intermediary and third party administrator specialising in personal lines solutions for affinity clients. Capita Insurance Distribution employs over 800 staff (based in Portsmouth, Colchester, Romford, Andover and St Ives in Cambridge) and administers around £200m of personal lines gross written insurance premium. It works with 49 insurance companies in the UK personal lines market place, and currently maintains different product sites for 82 household brands such as Asda, Liverpool Victoria and Admiral. Further information can be found at www.capitainsuranceservices.co.uk
The Capita Group Plc is the UK’s leading provider of BPO and integrated professional support service solutions. With 36,800 people at more than 250 sites, including 60 business centres across the UK, Ireland, the Channel Islands and India, the Group uses its expertise, infrastructure and scale benefits to transform its clients’ services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of the FTSE100 with revenues for 2009 of £2,687 million. Further information on The Capita Group Plc can be found at: www.capita.co.uk