Equity completes broker acquisition

Equity Insurance Group has acquired Insurance Dialogue (IDL), a broker specialising in providing home insurance to the over 50s.

IDL, which trades as insure4retirement, was owned by private investment firm Bridges Ventures. It is headed up by David Holden, who previously built and managed similar businesses for both Saga and RIAS.

"Over the four year term of their investment, Bridges Ventures has supported the company through a variety of developments including building a new call centre in Bournemouth which created a large number of jobs in the area," said Bridges Ventures and IDL in a joint statement. "The range of products on offer has also expanded considerably, while the company now has a large and growing base of loyal customers.

"Equity Insurance Group have to date been very supportive of IDL and Bridges Ventures believes that IDL is well placed to build on their strong foundations to grow the business further."

Philip Newborough of Bridges Ventures said: “David Holden, the founder and CEO of IDL, has developed this business from a concept to a large and growing specialist insurance broker with a loyal customer base. We would like to wish him and the team the very best of luck as they move into an exciting new phase of growth with support from Equity Insurance Group.”

David Holden of IDL added: “Bridges Ventures has supported us through our early growth and development stage. We are grateful for their assistance and now look forward to working closely with Equity Insurance.”

Douglas Morgan of Equity Insurance Group concluded: “We have known David of IDL for several years and are delighted to have the opportunity to support and assist in the company’s future growth."