Principal buys BikeTeam from iGO4 Partners

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Principal Insurance has bought BikeTeam from iGO4 Partners, bringing a book of 5,000 bike policyholders to the group. The Manchester-based broker noted that iGO4 Partners had sold off its motorcycle arm in order to focus on its private motor, van and home insurance lines. Principal, which in addition to motorcycle operates in niche van, motor trade and classic, performance, kit and high performance car markets, did not disclose how much the deal was worth. SolidPrincipal's chairman, Damian Ke