Capita acquires broker Sureterm Direct

The Capita Group has acquired specialised motor insurance broker, Sureterm Direct.

Capita said the acquisition will add greater capacity, new policy types and around 75,000 new policyholders to Capita Insurance Distribution, Capita’s insurance intermediary and administration business.

Sureterm is a personal lines broker offering insurance for classic cars, motorhomes and 4x4s and it operates in a number of areas which complement Capita Insurance Distribution’s existing brands, Lancaster and Hero.

This acquisition will allow Capita Insurance Distribution to align its classic car insurance business with its other operations, increasing the efficiency of its services to customers, the company said.

Capita managing director Mark Townsend said: “To be able to welcome an established name such as Sureterm Direct to our business is a great development. This will enable us to add new product lines to our portfolio, providing our existing and potential customers with further choice and value.”

Sureterm employs 141 staff, principally in Huntingdon, Cambridgeshire.

Sureterm Direct managing director Andy Wood added: “Joining forces with Capita represents a great opportunity for our insurance industry clients, our customers and our staff. We are fully committed to maintaining the focus that we have on specialist expertise and service excellence. Being part of Capita will allow us to further enhance the value we offer in these areas.”