Simply Business CEO says MBO will give broker more clarity
Simply Business CEO Jason Stockwood has stated the online broker is “on the start of a journey to transform the commercial insurance market with technology”.
The company has completed a MBO, backed by private equity firm AnaCap Financial Partners.
Stockwood told Insurance Age: “Private equity is the best home for us at the moment.”
He explained that the broker’s shareholder base previously comprised 66 different shareholders.
“It was pretty clear to me that we needed to simplify our shareholder structure for the purposes of clarity,” he stated.
“With 66 shareholders it’s sometimes hard to get alignment - with one shareholder you can get clarity with
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