NU holds firm over strategy
Norwich Union (NU) has reaffirmed its strategy of not buying brokers outright, with the confirmation...
Norwich Union (NU) has reaffirmed its strategy of not buying brokers outright, with the confirmation that it has taken a 7.5% stake in Glasgow-based broker Giles. Janice Deakin, trading director at the insurer, will take up a non-executive position on the broker's board.
The move follows NU's decision to buy a 5.1% stake in Jelf in March this year.
At the time, John Kitson, intermediary director at NU, said: "We are impressed with the strong management, value and direction that Jelf has shown in a
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