Norwich Union acquires HPI

Norwich Union (NU) has acquired HPI - an independent provider of vehicle information - from Pheonix Equity Partners for £120m. HPI provides vehicle status checks for used car purchases in the UK and is the market leader with around 60% market share. The move follows on from NU's recent acquisition of the motor sales business Oneswoop.com and the launch of its roadside assistance service Norwich Union Rescue.