Loyal Insurance Services Limited and Square Pound Limited are now part of SPB UK.
Without disclosing the transaction amount, the SPB Group subsidiary said it has acquired the insurtechs, which own the Insurance2go and Better Buy Insurance brands, respectively. The swoops are in line with its parent firm’s development strategy internationally.
The group operates as a broker on a white label basis and – aside from the UK – has a presence in Austria, Belgium, China, France, Germany, Hungary, Italy, Luxembourg, Morocco, the Netherlands, Poland, Portugal, Spain, Switzerland, Tunisia, and the US. Founded in Normandy in 1965, the affinity insurance specialist was the first mobile phone insurance provider in the UK.
“We are very pleased with the acquisition of the brands Insurance2go and Better Buy Insurance, which significantly strengthens our position in the UK and contributes to the international growth strategy of SPB Group,” commented SPB UK managing director Lorraine Higham.
“This acquisition will allow us to enrich our expertise in digital marketing, accelerating the digitalisation of our affinity solutions and further growing our business.”
Meanwhile SPB UK said the double deal will have no direct impact on its existing clients and customers. As for the snapped up brands, there are currently no plans to make any changes to them.
