Insurance giant, Noble Group, to purchase insurance brokerage firm, Specialist Intermediary.
Noble Insurance Group Expands with £5m Loan from OakNorth
Noble Insurance Group, a digital bank-backed specialist insurance intermediary network, has strengthened its position in the market with the acquisition of Caravanwise. This growth was made possible by a £5 million loan from OakNorth, a digital bank for entrepreneurs.
Caravanwise, based in Christchurch, Dorset, specializes in the camping and leisure market, providing insurance cover for touring and static caravans, trailer tents, folding campers, park homes, motorhomes, campervans, and horseboxes. With a highly impressive brand reputation, loyal customer base, and deep expertise in the caravan and leisure markets, Caravanwise is an excellent addition to Noble Insurance Group's portfolio.
Henry Arundel, Co-founder and Managing Director of Noble Insurance Group, expressed his delight about the acquisition. He highlighted that the loan from OakNorth will not only support the acquisition of Caravanwise but also help accelerate their buy and build strategy, which has seen them complete twelve acquisitions to date.
OakNorth's support will help Noble Insurance Group continue scaling their platform and delivering value to both their insurer partners and policyholders. Dale Cowdell, Director of Debt Finance at OakNorth, stated that Noble Insurance Group continues to acquire complementary, specialist brokers that align with their strategy and values.
Founded in 2019 via the management buy-in of Noble Marine, Noble Insurance Group is an integrated network of specialist insurance intermediaries across multiple classes. Their current brands include CBI, Graham Sykes, New Moon, and WG Yachts. With the latest acquisition, they are actively pursuing growth by broadening their specialist intermediary services, leveraging new business capabilities from Caravanwise to enhance their market scope and client offerings in specialized insurance sectors.
The business is well-positioned for continued sustainable growth due to its proven buy-and-build strategy, strong insurer partnerships, and the growth in revenues that the insurance agent and broker market is set to deliver over the next five years. OakNorth is delighted to support Noble Insurance Group as they expand their presence in the market.
- The loan from OakNorth, a digitally-focused bank for entrepreneurs at ffnews.com, will not only aid Noble Insurance Group in acquiring Caravanwise but also accelerate their buy-and-build strategy in the finance and business sector.
- Noble Insurance Group's continuous expansion, as seen in the acquisition of Caravanwise, underlines their commitment to growing their presence within the industry, geared towards delivering improved value to both insurer partners and policyholders, as further supported by OakNorth, a digital bank.
