Provident deal receives cautious welcome from brokers
MMA’s acquisition of Provident has been welcomed by brokers, but concern has been voiced over how the merger could impact on the variety of products available.
Glynn Keeling (pictured) MD of specialist van insurer Autonet said he was positive and optimistic about the takeover. However, he added: "We hope that they do not merge the products together as there are currently some interesting differences and we wouldn't want yet another insurer exiting the motor market."
It is believed that the purchase of Provident by MMA's parent company, Covea Group, should be finalised in the next three to four months.
Covea said the acquisition of the Halifax-based
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