Insurance firm expands with caravan operator deal

An insurance firm is expanding with a takeover.

Noble Insurance Group has agreed a deal to buy Caravanwise.

Bosses say Newark-based Noble will benefit from insurance intermediary Caravanwise’s “impressive brand reputation, loyal customer base and deep expertise”.

Its move for the Dorset-headquartered caravan, motorhome and campervan assurance firm has been backed by a £5 million loan from digital bank OakNorth.

Officials add it could fuel further acquisitions across coming months.

Henry Arundel, co-founder and managing director of Noble Insurance Group – whose portfolio includes caravan and holiday home assurance firm CBI Insurance and musical instrument insurer New Moon – said: “Caravanwise is an excellent addition to our portfolio.

“The team at OakNorth enable us to continue acquiring complementary, specialist brokers that align with our strategy.

“We look forward to working with OakNorth as we scale the platform.”

Dale Cowdell, OakNorth director of debt finance, added: “Noble Insurance Group has built a robust, high-margin platform in a highly specialised part of the insurance market.

“With a proven buy-and-build strategy and strong insurer partnerships, the business is well-positioned for continued sustainable growth.”

Noble Insurance Group’s portfolio also includes Noble Marine, which provides insurance cover for surfboards to superyachts, and Noble Security Box, which covers individuals' safety deposit boxes and security boxes in banks and security centres.

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