Insurer boosted by acquisition of rival
PUBLISHED: 09:05 28 October 2010 | UPDATED: 09:28 28 October 2010
A Norfolk firm which offers specialist car insurance has bought a Middlesex-based rival – set up by the same founder.
Adrian Flux, based in East Winch, near King’s Lynn, has bought Chartwell Insurance, which offers policies for disabled drivers.
The deal adds more than 3,000 policyholders to Adrian Flux’s 300,000-plus customers.
It also bring the firm back into the Adrian Flux fold.
Chartwell had been co-founded by Adrian Flux in 1965 and had traded under the Adrian Flux name until 1973 when Mr Flux moved to King’s Lynn to set up a new company of the same name.
The Middlesex-based Adrian Flux was then renamed Chartwell Insurance.
The business became available earlier this year when Chartwell’s owner, June Richardson, chose to retire.
Gerry Bucke, general manager at Flux, said the purchase would add real benefit for the company’s new and existing disabled customers.
“Adrian Flux started out insuring kit cars and disabled drivers, so the company has a wealth of experience and expertise in the field,” he added.
“And because of the historical connections between the two companies, it seemed like a perfect fit. It’s a great opportunity for us to refocus our schemes that we can offer disabled drivers.”
Mrs Richardson, who is retiring after running Chartwell since 1973, said: “I wanted to make sure that our policyholders were well looked after by an insurance broker with a great track record of negotiating good deals for customers and offering first- class customer service.”
One member of staff from Chartwell has been employed at Flux, the rest of the dozen staff employed by the firm have found alternative employment, a spokesman for the firm said.
Adrian Flux is now run by the founder’s son, David, in partnership with his mother, and employs some 500 staff at its rural headquarters.
Last month it announced it is to recruit another 150 staff and plans for an extension to accommodate more than 200 people.
A spokesman for the firm said all Chartwell policies will now be dealt with at Flux’s headquarters, but the Chartwell name and its range of Freedom policies for disabled people will remain.