Ryan Direct Group is to acquire Assurant Intermediary Limited, subject to regulatory approval.
RDG, an insurance services business based in Doncaster, expects the deal to complete by the end of 2014.
Assurant Intermediary has a household book of around 43,000 policies and a mortgage protection book of 14,000 policies, that generate in excess of £20m GWP.
Derek Coles, RDG chief executive, said: “The business has been a well-recognised player in the general insurance market for a number of years and the opportunity for RDG to combine this with its existing strategic relationship with Uinsure is compelling.”
Assurant Intermediary will be rebranded to RDG Intermediary and Vicky Hodgson, the business’s current commercial director, will join the RDG team in a similar role with immediate effect.
Coles added that RDG will use the deal as a platform to develop further its relationship with Uinsure, its existing partner in this market, to deliver wider choice and technology and improve the business’s product and service offering.
Hodgson said: “As well as providing the right long term home for the business, this is a tremendous opportunity to consolidate and develop a broker focused business. We will be able to offer our brokers and advisers broader choice, an improved customer journey and deliver new investment in our proposition to lead in a market that’s changing rapidly following the Retail Distribution and Mortgage Market Reviews.
“I’m looking forward to playing my part in helping to deliver RDG’s long term strategic aims under the business’s new brand, RDG Intermediary.”
Simon Taylor, chief executive officer at Uinsure, added: “We have made quantum strides in our partnership with RDG over the last two years, and this wider partnership further underpins our aim to be the provider of choice in the IFA and mortgage broking arena.”
