Carole Nash sale stopped by parent company Groupama

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The well known Motorbike Insurance broker Carole Nash was put up for sale at the start of the year. This was in response to the euro zone crisis, and the effect it was having on parent company, the French insurance giant Groupama. In an effort to reduce debt levels, the French Insurer sought to sell several of its assets, and indeed in recent weeks it completed the sale of its UK insurance arm to Ageas Insurance.

Carole Nash retained by Groupama

However, it was decided to keep the broker side of the business within Groupama, and a recent decision has been made to retain the specialist Carole Nash brand within the company.

Carole Nash was sold by its original founder in 2006 for around £70 million. The company employs around 300 people, the majority of which is at its Altrincham site. The company made a profit of £5.9 million in the last financial year, and turnover increased to £25 million, with both figures up on the previous year.

Motorbike Insurance Carole Nash

Carole Nash Insurance brokers have been taken off the market by owners Groupama

Carole Nash remains one of the best known insurance brokers in the UK, especially for motorbikes. The brand continues to perform well in difficult financial times, and the decision to withdraw the company from sale may well be a clear indication of Groupama’s recognition of this fact.Many insurers continue to struggle, but with a firm base and well marketed niche products, the Carole Nash brand holds a solid position in the UK consumers mind, with scope to expand in the future.

Good news for motorbike owners?

For Motorbike owners this may well be good news also. If the brand had been sold then the business model may well have shifted away. The halt of the sale from Groupama is likely to see the brand developed rather than changed from its core business.

Of course the move also looks to safeguard UK jobs at the Carole Nash office in Manchester, which is also good news for the UK economy!

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