Carole Nash acquires AA's motorcycle insurance business

Carole Nash Insurance Consultants has acquired the AA's entire motorcycle insurance business in a move which will further consolidate its market-leading position in the bike sector.

The deal - for an undisclosed sum - will see Carole Nash taking on the AA's 17,000 biking customers from March 1st. They will join Carole Nash's existing base of over 220,000 UK and Irish motorcycling policyholders. In addition to transferring its existing biking policyholders to Carole Nash, the AA will also refer all new enquiries to the company for the next two years.

Both Carole Nash and the AA believe the deal to be in the best interests of the policyholders. "The AA reviewed what was a very small element of their overall business and, recognising it as a non-core activity, saw that Carole Nash could provide their biking customers with a specialist service,” commented Carole Nash's Managing Director, Damian Keeling.  ”This is a good deal for Carole Nash, the AA and, most importantly, for the bikers concerned, who will continue to benefit from a high level of service and value.”

Policyholders will see no change to their existing cover when policies issued by the AA transfer to Carole Nash.  However, any claims or policy amendments made after March 1st will be handled
by Carole Nash. When AA customers' insurance is due for renewal they will be offered new cover by Carole Nash.

The agreement, which will see Carole Nash creating 20 new full time customer service roles, underlines the company's position as the UK 's leading motorcycle insurance specialist. Founded by Carole Nash in 1985 the company has enjoyed rapid growth in recent years as it expanded from its roots in the classic motorcycle market to target the modern motorcycle sector. Since 1995 the number of bikers insured through the company has soared from just 30,000 to today's tally of over 220,000 (excluding the AA acquisition). Growth has been fuelled by the launch of a range of added value policy innovations and a reputation for excellent customer service which has bred strong loyalty among bikers to the Carole Nash brand.

The company's professionalism has been consistently commended by both bikers and the insurance industry. A 2003 survey of over 7,000 bikers by RiDE magazine saw the company named as the Most Used Broker and achieving the highest satisfaction rating of the 35 firms surveyed. At the 2003 British Insurance Awards it was also named Personal Lines Broker of the Year and won the Training Award.

In addition to its core insure business Carole Nash now offers a range of motorcycling related services, many designed to help minimise bikers' insurance premiums.  These include CN Secure which offers discounted security products and is already the UK 's leading independent bike security fitter. To prevent unscrupulous garages fuelling its insurers' fast rising repair bills, Carole Nash also launched a national network of approved repairers, headed by its own £240,000 in-house facility. Its introduction has cut the cost of an average repair bill by 13%.

Employing over 350 staff at its headquarters in Altrincham, Cheshire and offices in Dublin,
Carole Nash now generates annual income in excess of £50m and is the UK's 39th biggest insurance broker (source: Insurance Times).