Quindell adds to shareholding in Lineker-backed insurance offering
Quindell Portfolio has paid £2.85m cash for a further 16.4% stake in Ingenie, the insurance intermediary digital brand aimed at young drivers.
The investment takes Quindell's holding in Ingenie to approximately 19.7%.
The service was launched in November last year and is targeted at drivers aged 17 to 25. It operates online and fits customers' cars with a black box telematics system with policies currently solely underwritten by Ageas.
Quindell highlighted that the telematics technology had been developed in partnership with the Williams Formula 1 team who are investors in Ingenie as is Gary Lineker, who is actively involved in the
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