Simply Business closer to management buyout
Simply Business is set for a deal to separate from Brit Group through a management buyout, sister title Postonline has revealed.
According to the article, Mark Cloutier, group CEO of Brit, said of the current situation: "With regard to Simply Business, we cannot speculate or comment on rumours.
"However, if an MBO on favourable terms were to be concluded, Brit would be inclined to support it given that we have exited the UK middle market."
The insurer retained a 38.4% stake in Simply Business - which reports through holding company Xbridge - when it sold its UK regional business to QBE in April last year.
Regarding the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop