UK motorcycle insurance specialist Carole Nash has reassured customers that it will continue to be run as a separate entity to Groupama Insurances, following its acquisition by Groupama UK.
Carole Nash, which has 240,000 policyholders in the UK and Ireland, will also retain its existing management team, led by managing director Allister Hill. Mr Hill will now report to Pierre Lefevre, chairman and chief executive at Groupama UK, who will chair the Carole Nash board.
Although there will be no job cuts among Carole Nash’s 350 staff in Altrincham, South Manchester and Dublin, Ireland, Carole Nash, who founded the business in 1985, will be retiring as part of the agreement. She will, however, be retained by Groupama in an ambassadorial role.
Warren Dickson, director of marketing at Carole Nash, commented: We will continue to run the day-to-day business and there will be no changes in terms of the quality of our existing products and services. However we will gain from the investment, strength and security that Groupama can commit to Carole Nash, allowing us to grow and maintain our highly competitive, added-value product strategy.
Mr Lefevre said: This is an important strategic acquisition for our group and one that offers us almost unrivalled access to a number of niche markets and presents the opportunity for valuable profitable growth.
He added: We have no immediate plans to make any changes. Our intention is to invest in the business to drive its growing success.