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CAROLE NASH BUY-OUT ANNOUNCED “Business as usual” as Groupama UK Acquires Carole Nash Insurance Consultants Management at Carole Nash Insurance Consultants have reassured bikers that it is business as usual after the company was bought by Groupama UK, owner of Groupama Insurances, one of the UK’s leading insurers. Carole Nash, which is the UK and Ireland’s biggest motorcycle insurance specialist and has over 240,000 policyholders, will continue to operate entirely separately from Groupama Insurances, under its existing management team lead by Managing Director Allister Hill. “This is great news from both our perspective and that of Carole Nash policyholders,” commented Warren Dixon, Director of Marketing. “We will continue to run the day-to-day business and there will be no changes in terms of the quality of our existing products and services. However we will gain from the investment, strength and security that Groupama can commit to Carole Nash, allowing us to grow and maintain our highly competitive, added-value product strategy.” Carole Nash is already one of the UK''s top 30 brokers generating over £60 million in premiums annually. It is also a major player in the classic car insurance sector, the largest independent fitter of motorcycle security products and provides a range of added-value car, household and travel policies. Speaking today, Pierre Lefèvre, Chairman and Chief Executive at Groupama UK said: “This is an important strategic acquisition for our Group and one that offers us almost unrivalled access to a number of niche markets and presents the opportunity for valuable profitable growth. Carole Nash is a market leading business with excellent people, tremendous market knowledge and highly respected products. The business has a very strong brand presence in its chosen areas and we will be supporting the existing management team to maximise the potential of the Carole Nash brand.” There will be no job losses among the 350 staff who work for Carole Nash in Altrincham, south Manchester, and in Dublin. Pierre Lefèvre added: “We have purchased Carole Nash for its acknowledged expertise and customer service skills and we have no immediate plans to make any changes. Our intention is to invest in the business to drive its growing success.” As part of the sale agreement, Carole Nash, who founded the business in1985, will be retiring. However, Groupama will be retaining her in an ambassadorial role. Allister Hill will remain as Managing Director of Carole Nash reporting to Pierre Lefèvre who will chair the Carole Nash board. Commenting on the sale to Groupama, Carole Nash said; “Although I am obviously sad to be retiring from a business that has been my life for the past 21 years, I am very confident that I will be leaving it in safe hands. Throughout the sale negotiations I have been very impressed by the way that Groupama does business. They are an organisation with strong values, excellent financial security and some very exciting plans for the ongoing success of the Carole Nash brand.”
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