Biba welcomes private equity capture of Premium Credit
The British Insurance Brokers' Association (Biba) has welcomed GTCR's acquisition of Premium Credit.
The US private equity firm today confirmed it had bought the premium finance provider in a £900m deal from Bank of America (BoA) affiliate MBNA Europe.
Last year, the BoA confirmed it would exit its UK and Ireland credit card retail businesses.
And Biba - which recently extended its endorsement deal with Premium Credit for a further three years - said it was pleased the provider's future was now confirmed.
Speaking to Insurance Age, Biba's head of corporate affairs Graeme Trudgill said: "It's
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