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Assurant Intermediary purchased by Ryan Direct Group

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  • 06/10/2014
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Assurant Intermediary purchased by Ryan Direct Group
Specialist insurance firm Assurant Intermediary has been bought by the Ryan Direct Group (RDG) has been announced.

Doncaster-based RDG will acquire Assurant Intermediary from its parent company Assurant Group. The firm specialises in the provisison of home and protection insurance products to mortgage brokers and other advisers.

The deal will be completed, subject to regulatory approval, by the end of the year.

The firm said it would use the acquisition to ‘build scale’ in the mortgage market and would rebrand as RDG Intermediary. Vicky Hodgson, RDG’s current commercial director, will head up the new business.

RDG chief executive Derek Coles said it would use the new firm to develop its relationship with Uinsure, its existing insurance partner in the market.

“The business has been a well-recognised player in the general insurance market for a number of years and the opportunity for RDG to combine this with its existing strategic relationship with Uinsure is compelling,” he said.

Hodgson said: “As well as providing the right long term home for the business, this is a tremendous opportunity to consolidate and develop a broker focused business.

“We will be able to offer our brokers and advisers broader choice, an improved customer journey and deliver new investment in our proposition to lead in a market that’s changing rapidly following the Retail Distribution and Mortgage Market Reviews. I’m looking forward to playing my part in helping to deliver RDG’s long term strategic aims under the business’s new brand, RDG Intermediary.”

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