News review: June 2010
Online marketplace Ebay was poised to seek a raft of insurance partners as it geared up to launch a financial services offering. Insurance Age's sister title Post learnt that Ebay agreed a partnership with Staffordshire-based intermediary Autonet to help it deliver commercial vehicle insurance, with both sides hoping to go live in July. Autonet managing director, Glynn Keeling, said: "We will be working closely with Ebay on the insurance channel and we will utilise our experience to help make it a success."
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The private equity parent of Kwik Fit Insurance was reported to be within reach of a deal to sell the motor specialist to a trade buyer. Fortis Insurance was linked to a deal to buy the Uddingston-based intermediary from its French parent, private equity firm PAI Partners. AA and Saga's parent company, Acromas, was also understood to have held serious discussions with PAI — which is tipped to
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