Zurich sells Endsleigh to private equity-owned broker A-Plan
INSURANCE giant Zurich has sold its student business Endsleigh to private equity-owned broker A-Plan for an undisclosed sum.
ENDSLEIGH
Endsleigh, set up by the National Union of Students in 1965, will continue as a standalone business operating from its Cheltenham base.
Its profit fell 64 per cent to £2.5million on 16 per cent lower turnover of £39million in 2016.
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This is a really exciting time for us
Endsleigh boss Jeff Brinley said: “This is a really exciting time for us and we’re delighted to be joining such a respected organisation as A-Plan, who continue to deliver impressive results in a challenging market.
“Our customers, our people, NUS, insurer partners and other partners we work with can be confident that we remain committed to our transformation programme, to looking after our customers and delivering growth in our core markets.”
A-PLAN
Zurich’s UK CEO Tulsi Naidu, said: “Endsleigh will be part of a well-respected and successful broker business, and will be in very good hands.
“This is a positive transaction for all parties, including Endsleigh’s people and customers, and is a clear demonstration of how we are continuing to simplify our organisation and optimise our portfolio.”
