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Sunday 24th of Sep 2017 - My Account - Register - Brokers - Bookmark RightBiz
Asking Price:
£1,000,000

Insurance Book For Sale By Independent Insurance Broker South East Premium Advert

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THIS BUSINESS IS NOW UNDER OFFER
Further Details
ReferenceCK004 / RightBiz
Status
UNDER OFFER
Advert ID173257
LocationUndisclosed, Undisclosed
SectorFinancial Businesses, Insurance Brokers
Asking Price£1,000,000
Annual Turnover£1,130,000
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Key Features
  • Company for Sale
  • Attractive Business
  • Established Business
Domestic Appliance Warranty Insurance Book for sale by independent insurance broker.
Ref. CK004
Location : London / South East
Asking Price : £1,000,000
Turner Butler has been appointed to invite offers for the purchase of the Warranty Insurance Book of business or the share capital of a leading independent insurance broker.

Key strengths:

The business has the following key attributes:

• c12,000 + policies currently in place.
• Insured book value in excess of £1m
• Customer retention rate 80%.
• Direct Debit/Credit Card authority in place.
• Claims ratios low for the sector – less than 10% of the gross premiums.
• Strong relationships with Underwriters.
• Excellent reputation for high levels of customer service.
• Very effective sales operation – in-house Call Centre.
• Substantial potential for range and market expansion.

The business provides an acquirer with an ideal bolt on for a company already operating in the insurance sector or alternatively an excellent starting opportunity for an individual or organisation looking to establish themselves in the financial services sector.

Financial performance:

For the financial year ending October 2015, turnover of the Business was circa £1.13m with gross profits of almost £668,000. EBITDA, before Director’s costs was circa £180,000.

The asking price of £1.0 million is for either a sale of the book of business or of 100% of the Issued Share Capital of the Business on a ‘cash free, debt free’ basis. This figure reflects the volume of policies in place and the customer retention rate, which is consistently circa 80%.

Next steps:

If you are interested in receiving further information, please sign and return the attached Confidentiality Agreement. In returning the Agreement we would be grateful if you could provide us with details of your interest in this opportunity along with your funding position.

All enquiries or requests for additional information should be submitted or directed to Turner Butler Head Office: 01895 256000.

Looking for finance ?

If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at finance@turnerbutler.co.uk
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