Perseverance completes UK exit
Birmingham-based broker, Premium Choice, has bought back shares held by the insurance arm of venture capitalist firm, Perseverance.
The deal completes Perseverance’s exit from the UK market following the sale of KGM to Canopious in July 2010.
Co-founders Mark Woods and Richard Dornan, who started the business in 1999, originally sold the shareholding to Optimas, the insurance arm of Perseverance, in May 2007.
Since then the business, which specialises in niche private car, commercial vehicles, motorcycle, non-standard risks and specialist vehicles, has grown from £13m to £40m and employs 160 staff.
Commenting on the deal, Mr
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