Banks-owned Somerset Bridge to sell Business Choice Direct
Group had held a 51% stake in Business Choice Direct since it was spun out in 2016.
Somerset Bridge Insurance Services has announced the sale of Business Choice Direct Insurance Services to Lloyd and Whyte Group for an undisclosed sum.
Business Choice Direct, Somerset Bridge’s commercial insurance subsidiary, has turnover of more than £6m and profit before tax of around £1m. Its policy count stands at 26,000.
The business was first established in 2013 and was carved out as a subsidiary company in 2016, with Somerset Bridge holding a 51% stake.
Somerset Bridge Group said the
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