The UK’s Royal & Sun Alliance Insurance Group plc has acquired the Fyfe Group, a UK retail and wholesale intermediary specializing in motor trade products for small businesses.
“In 2007 it delivered £10.1 million [$19.7 million] of gross written premiums and following the acquisition, R&SA will underwrite 100 per cent of Fyfe’s book of business,” said the bulletin.
Bridget McIntyre, UK Chief Executive commented: “Fyfe Group has a proven track record of achieving excellent financial performance. This is an excellent opportunity for R&SA and with Fyfe Group’s understanding of the market, one that will enhance and broaden our sector speciality in motor trade. This acquisition is perfectly aligned with our strategy of bolt-on acquisitions that build distribution or complement our underwriting capability.”
Source: Royal & SunAlliance – http://www.royalsunalliance.com.
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