Fortis Insurance UK has been given regulatory approval from the Financial Services Authority(FSA)for the purchase of Kwik Fit Insurance Services.
Fortis said the deal will add another 600,000 customers to its existing 7 million customer base in the UK and "consolidate Fortis as the fourth largest personal lines intermediary distributor in the UK"....
Losses have decreased compared to the same period in 2015.
Deal includes all motor and non motor products as well as its schemes business.
CFO Mark Mugge says the broker is “building a business for the long term” and has returned to profitability.
Consolidator reports 7% fall in income for six months.