News analysis: Fortis snaps up Kwik Fit
Fortis has expanded with the £215m cash purchase of Glasgow-based Kwik Fit - including Express and Green Insurance - from Kwik Fit Financial Services.
The deal will add 600,000 customers with 1.2m policies, of which around 75% are motor policies. A Kwik Fit spokesperson said that the insurer panel was expected to remain; the firm places 10% of its business with Fortis. Asked to comment on Fortis potentially competing with itself in too many places, the spokesperson replied: "We want to be wherever the customer wants to buy from."
Fortis' chief executive officer Barry Smith was keen to stress that Kwik Fit will remain as a standalone business
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