Lanarkshire based Kwik Fit Insurance have announced that they are looking to double the size of their motor insurance business, with aims to increase the volume of policies issued from the current 500,000 per year- up to 1million.
Kwik Fit who are backed by French capital venture group PAI Partners, told Scottish news paper Scotland on Sunday that it is looking to acquire UK insurance brokerages in an effort to achieve it’s goals of doubling in size over the next five years.
Chief Executive Brendan Devine has also revealed that negotiations are currently taking place with potential joint venture partners which could result in Kwik Fit Insurance branching out into underwriting it’s own policies.
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