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Junction Acquires Bradford & Bingley Motor and Home Business
Immediate release: 22 April 2010
Junction, the UK's fastest growing affinity specialist intermediary, today announced its acquisition of Bradford & Bingley's motor and home insurance business.
Andy Wiggans, Commercial Director, Bradford & Bingley, said: "With Bradford & Bingley now in public ownership, our focus is on our core business as a mortgage administrator. Junction has been our trusted partner since 2003, handling our motor and home insurance, so it was a natural step to sell the business on to Junction and its parent company, BGL Group. Importantly, the process will be seamless to our customers and their policy terms will not be affected."
Home and motor insurance will continue to be offered under the Bradford & Bingley brand to new and existing customers, both direct and via price comparison sites. Junction has secured a 10-year brand licence to carry on home and motor insurance business under the Bradford and Bingley name.
Peter Thompson, Managing Director of Junction, said: "This acquisition plays to our strengths as an affinity provider. Our focus will be on retaining the brand's existing customers and continuing to attract new ones, through competitive pricing and working closely with our bespoke panel of insurers."
All customers will be contacted shortly and reassured that no action on their part is required.
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