Norwich Union has acquired the online and telephone based motor sales business of Oneswoop.com Limited.
Following the acquisition, NU said it would be able to develop its capability to sell cars via Oneswoop.com and norwichunioncars.com brands, as well as provide motor insurance, breakdown cover, finance and rehabilitation cover.
The insurer described the acquisition as the latest move in its strategy to become a one-stop shop for motorists. NU had previously piloted a scheme that enabled customers to buy or lease cars.
Oneswoop’s workforce of 20, based in Hammersmith, London, will become part of Norwich Union under the deal.
Norwich Union Cars marketing manager Jill Willis, said: “We carried out research with our customers and found they would welcome the chance to buy a car, from a company they trust. So, we have gone on to look at the best way to bring our car buying service to customers.
“We’re developing a more holistic approach to the customer and improving the range of products and services on offer.
“As a company the diversification makes perfect sense - we estimate the total spend on motoring in the UK is £63bn a year and insurance costs make up just 12 per cent of that total.
She added: “By purchasing Oneswoop’s business, we are moving closer to both the customer and the car dealer, and with this acquisition we are demonstrating that we are serious about becoming a significant player in the car sales market.
