UK-based Kingfisher Insurance coverage has bought specialist motorsport insurance coverage dealer REIS Motorsport Insurance coverage for an undisclosed sum.

REIS has been serving the motorsport business for greater than 15 years.

The most recent deal helps Kingfisher to bolster its place as one of many main specialist insurance coverage suppliers within the UK.

Additionally it is in step with the corporate’s technique to increase its enterprise organically and by buying high-quality companies that supply specialist options to area of interest market segments.

Kingfisher Insurance coverage CEO Jacquie Boast mentioned: “We’re delighted to welcome the purchasers and staff of REIS Motorsport Insurance coverage to the Kingfisher household. With this acquisition, we will supply a wider alternative of motorsport insurance coverage merchandise to the market.

“The REIS identify is well-known for its experience within the business but additionally for its real ardour for the game and makes it an essential addition to our group.

“The acquisition aligns with our technique to turn into the main specialist insurance coverage supplier within the UK and the REIS workers add additional depth and expertise to our current and knowledgeable groups in different area of interest sectors.”

Kingfisher, whose portfolio consists of numerous manufacturers, primarily supplies its purchasers with specialist insurance coverage choices.

In April, Kingfisher introduced the acquisition of Nottingham-based dealer Smiles Danger Options.

REIS Motorsport Insurance coverage senior operations supervisor Mary Singleton mentioned: “Motorsport insurance coverage will be complicated with many variables to contemplate so it’s incredible to be a part of an organisation that’s devoted to, and really perceive, specialist insurance coverage.

“With Kingfisher’s help, we intention to develop our market presence, improve our shopper base and supply extra merchandise to our suite of specialist market-leading capabilities.”