Sources have reported that options are being explored for a potential £1 billion sale of UK digital home and car insurer Policy Expert.
Bloomberg writes that investment firm Primary Group and advisors Perella Weinberg Partners are working with Policy Expert’s parent company, QMetric Group, to look at possible buyers.
It’s been reported that a number of private equity firms have already expressed interest, with a formal bidding process perhaps set to begin during H2 of this year.
Launched in 2011, Policy Expert ranked as the 10th largest home insurance brand in the UK last year, after sustaining double digit growth in its customer base for several consecutive years.
QMetric attributes this success to the business’s technology and policy administration system, which it says enables to access markets more efficiently and outperform competitors.
