Carole Nash announces ‘landmark’ deal

Broker will take on around 6,000 new policies from rival firm

Carole Nash announces ‘landmark’ deal

Motor & Fleet

By Louie Bacani

The expansion of Carole Nash Insurance Consultants has continued this year with the specialist broker’s purchase of Cornmarket Insurance Services’ motorcycle insurance book in Ireland.

The deal will see Carole Nash acquire the motorcycle renewal rights of Cornmarket’s Irish customer base effective July 01.

Regional news website reported that Carole Nash will take on around 6,000 new policies following the Cornmarket deal. The policies will be managed from its office in Dublin.

Carole Nash chief executive David Newman said his company is inheriting a “well-run” book of business from Cornmarket, which they have “respected for a number of years.”

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“It’s yet another landmark deal for Carole Nash as we continue to drive the sector through our expert biking knowledge that delivers fresh product innovation time and time again,” Newman said.

Existing Cornmarket policies will remain unchanged following the Carole Nash purchase. Cornmarket managing director Sam Geddis assured clients that their insurance needs will continue to be met.

“They (Carole Nash) understand bikers meticulously and we’re certain our policyholders will be thrilled to be riding alongside them,” Geddis said.

Cornmarket said its withdrawal from Ireland’s motorcycle insurance market followed a strategic review of the business.

The firm has written to a number of clients who are due for renewal shortly, advising them of the deal with Carole Nash. It will communicate with all motorcycle insurance customers in Ireland in the coming weeks.

Related stories:
Carole Nash CEO David Newman revs up to buy more business
Specialist broker Carole Nash posts 77% profit growth

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