7 January 2019Insurance

Inflexion completes investment in motor insurer Granite Underwriting

Inflexion Private Equity is has completed a minority investment in Granite Underwriting, a specialist motor insurance business. The investment is being made by Partnership Capital Fund I, Inflexion’s dedicated minority investing fund.

Established in 1982, Liverpool-based Granite comprises a number of brands which distribute specialist motor insurance, catering to drivers of private hire taxis, black taxis, Uber and other large operators in the sector as well as specialist cover for private car and light commercial vehicles.

Following Inflexion's investment, the business will continue to be run by the existing management team led by founding shareholders Alan Keating and Martin Gowing.

Alan Keating, managing director and co-founder of Granite, said: “I am delighted to have found a partner with relevant industry expertise, as well as a strong understanding of how digital enhancement can help improve our business. These traits combined with their experience as a minority investor made them the right backer for us as we look to increase our market share further.”

Simon Turner, managing partner of Inflexion, commented: “The management of Granite stand out as talented and ambitious in an industry we know well. Their unique and differentiated business has proven adept at catering to specialist segments within the insurance space to deliver market leading products and we look forward to helping them innovate and grow further."

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

Rothesay Life bid for Swiss Re’s ReAssure could scupper IPO

Pool Re will no longer offer contingency cover against terrorist acts

Hamilton Underwriting poaches CFO from WR Berkley

Continental Re hires Swiss Re exec to spearhead new venture

Arthur J. Gallagher to acquire UK broker Stackhouse Poland

UK insurer Kingsbridge acquires insurtech firm Dinghy

R&Q subsidiary Accredited partners with motor MGA Kitsune

US commercial rates up by 2% in Q4

Willis Towers Watson makes senior EMEA appointment

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
20 September 2019   Motor insurer Granite Underwriting is looking to hire 300 people to help grow its business and that of its subsidiary Acorn.