Today, we are announcing that UK General Insurance is to be acquired from Primary Group by J.C. Flowers, a well-known US-based private equity company that specialises in financial services. The acquisition is subject to regulatory approval, after which UK General will come under new ownership. We expect this process to be completed in the early Summer 2017.
Karen Beales, managing director of UK General, said: “This acquisition by J.C. Flowers & Co. is a huge vote of confidence in our business, our brand and our people. It strengthens our position as one of the leading personal lines schemes businesses in the UK and will enable us to continue with our strategic plans under the UK General brand.“
Jonathan Cox, Vice President of J.C. Flowers & Co., said: “UK General is an important addition to our global portfolio of financial services investments. UK General’s innovative and diversified product offering, along with exceptional service, offers a compelling business model at a time of increasing demand for specialist personal lines insurance products. We look forward to working with the management team to continue growing the business.”