Swinton, one of the biggest high street insurance retailers in the UK has acquired the Equity shop network of IAG (Insurance Australia Group Ltd) safeguarding the jobs of 600 jobs and 91 retail outlets.
The deal, worth some £50 million, sees Swinton now managing over 3 million individual home and car insurance policies and become the third largest insurance retailer in the UK.
Swinton Head Office is based in Manchester with three UK call centres in Manchester, Halifax and Norwich.
With a workforce of nearly 5,000 people spread across the country in more than 500 high street offices, it is now said to have the largest high street presence of any insurer in the UK.
Notwithstanding, Swinton also recognises the benefits and choices customers want, so also operates five motor and two home insurance brands on the internet.
Swinton, continued it’s success story last year by reporting record profits for the 7th year in a row.
The Swinton Group Chief Executive, Patrick Smith, said;
“The acquired shops will be fully integrated into the business as will the Equity staff, whose expertise and knowledge of the communities in which they live and work, is very valuable to us. “
“This deal is not about reducing staff numbers to increase margins; it is about providing great customer service to local communities.”
This is unlikely to be the end of Swinton’s expansion plans.
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