Broking division acquires 32,000 private car policies
Highway's broking subsidiary, Hero Insurance Services, is to buy 32,000 private car policies from Local Broker, an insurance intermediary brand that is part of the Budget Group of companies.
Hero will pay £2m in cash for the acquisition.
Meanwhile, Hero has appointed ACM ULR, also part of the Budget Group, to provide its motor legal protection services.
Paul Cosh, managing director of Hero, said: "I am delighted with this deal as it represents another significant step in positioning Hero as a leading player in the personal lines distribution sector. In addition it develops further Highway’s relationship with the Budget Group, which is one of Highway Insurance Company Limited’s largest distributors.”
