Royal & SunAlliance acquire Fyfe Group
February 26th, 2008
Royal & Sun Alliance Insurance Group plc (R&SA) announces the acquisition of Fyfe Group, a UK retail and wholesale intermediary specialising in motor trade products for small businesses.
In 2007 it delivered £10.1m of gross written premiums and following the acquisition, R&SA will underwrite 100 per cent of Fyfe’s book of business.
Bridget McIntyre, UK Chief Executive said: “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 specialism in motor trade.”
“This acquisition is perfectly aligned with our strategy of bolt-on acquisitions that build distribution or complement our underwriting capability.”
Entry Filed under: FINWIRE®
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