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Capita acquires Hero Insurance Services from LV=

Capita Group has acquired general insurance broker Hero Insurance Services from LV= for £15m.

The move forms part of Capita’s plans to add greater capacity and new expertise to the group’s intermediary business.

Capita Group chief executive Paul Pindar says the acquisition will now allow the group to provide a more comprehensive service offering a greater range of product lines.

He says: “Hero operates in a number of areas of the market that differ from, but complement, those in which our existing business, BDML, operates. Its distribution channels include direct sales via both phone and internet and a number of key aggregators. Its acquisition will provide new economies of scale and the opportunity to offer more ancillary products to existing customers.”

Hero director of operations Jackie Basham says: “Joining forces with Capita represents a great opportunity for our insurance industry clients, our customers and our staff. We are fully committed to maintaining the focus that we have on specialist expertise and service excellence.”

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