CONTRACTS have been exchanged for the UKs largest independent insurance broker and underwriter to purchase Altrincham-based motorcycle insurance broker, Carole Nash.
The Ardonagh Group was formed in May this year and employs over 5,000 people across the country and brings together insurance brands such as: Autonet, Towergate, Chase Templeton, Direct Group and Price Forbes. Carole Nash will now be joining Autonet, a leading van insurance broker.
David Newman, CEO of Carole Nash said: "As a management team, our plans to keep building our brand and market share means we have been looking for a home where we can build on the reputation we have fostered over many years, ensuring longevity of our much-admired service and expertise.
"As we start to investigate the opportunities to collaborate with like-minded businesses within The Ardonagh Group such as Autonet and to build on our individual strengths within a market we collectively dominate, I feel sure we will create a very special opportunity for both our people and our customers."
Carole Nash on Manchester Road has been based in South Manchester since its formation in 1985. It is the largest motorcycle insurance broker in the UK - in 2016, the company reported income approaching 29 million. Mr Newman ensured their clients that the business will remain in Altrincham and will be business as usual.
Ian Donaldson, CEO of Autonet also said: Carole Nash is a fantastic company and we fully intend to embrace the pioneering work they have done in the motorcycle market. The ethics which underpin the brand, backed by specialist knowledge and genuine passion make this one of kind business genuinely unique. Were really looking forward to getting the teams collaborating on creating a unique and formidable force in UK motor insurance broking.
CEO of The Ardonagh Group, David Ross, said: "We have admired the business for a long time and are really happy to be welcoming them into the fold as another hugely important addition to the Ardonagh Group family.