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BENNETTS BOUGHT BY RIGHT CHOICE

Specialist motorcycle insurer Bennetts has yet another new owner, after Ardonagh Group was forced into a disposal by the Competition and Markets Authority. 

Bennetts began its travels in 2015, when purchased by Saga from BGL Group for £26m. The business was than subsequently sold for a similar amount to sit alongside big-league biker brokers Carole Nash and Swinton in the Ardonagh portfolio last year.

But the regulator took umbrage over this deal as anti-competitive. So Bennetts has now been bought from Ardonagh for an undisclosed sum by Romford-based Right Choice Holdings, proprietor of Right Choice Insurance Brokers (RCIB) and various other branded motor and motorcycle insurers, including Bike Devil.   

Commenting on the acquisition, Right Choice chief executive Mike Joseph said: “We are very proud to be the custodians of this great business and will work closely with the Bennetts’ management team to invest in and expand from its existing locations in Coventry and Peterborough. Both this acquisition, and other recently announced motor acquisitions, add great value to our group.”

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