J. C. Flowers completes acquisition of UK General
J.C. Flowers & Co. LLC (“J. C. Flowers”), a leading private investment firm dedicated to investing globally in the financial services industry, announced today that its acquisition of UK General Insurance was completed on 24th May, following regulatory approval. The transaction was previously announced on 6 March 2017.
Leeds-based UK General is a leading personal lines insurance provider, offering a range of personal lines insurance products across property, leisure and lifestyle, payment protection, financial loss, motor financial, warranty, travel and personal accident classes of business.
Karen Beales, Managing Director of UK General said: “J. C. Flowers is an experienced investor in financial services and we are excited by the opportunities to grow the business under new ownership. We believe that we have a very strong platform to invest in our people, products and distribution technology to further our long term aim to build a market leading position in the UK personal lines schemes market.”
Jonathan Cox, Vice President of J. C. Flowers, said: “We are delighted to welcome Karen and the UK General team to our global portfolio of financial services investments. There’s a tremendous opportunity to capitalise upon UK General‘s unique products and services, and we look forward to working with the team to continue to build the profitability of the business.“