Newspaper article Manchester Evening News

Revving Up for Further Growth ; a EXPANDING INSURER EYEING UP MORE ACQUISITIONS AFTER LATEST DEAL

Newspaper article Manchester Evening News

Revving Up for Further Growth ; a EXPANDING INSURER EYEING UP MORE ACQUISITIONS AFTER LATEST DEAL

Article excerpt

ACQUISITIVE hungry Principal Insurance has snapped up another business as it looks to grow its motorbike division.

The purchase of A&A Group's Complete Bike Cover motorcycle book is the third acquisition by Principal this year. It also bought BikeTeam from iGo4 and Simply Insurance's motorcycle book in January.

The deal brings more than 2,000 motorcycling policyholders to the Manchester-headquartered specialist insurance group.

A&A sold the book in order to concentrate on its core car, van and home insurance business.

Principal's managing director, Dave Bowcock said: "The Complete Bike Cover book is relatively small but solid and one which can benefit from our specialist expertise. It will add further mass to our motorcycle business which is already benefiting from significant organic growth which has established us among the key players in this niche. …

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