J.C. Flowers closes UK General buy

J.C. Flowers & Co said May 25 that it has closed its buy of UK General Insurance Group Ltd. The deal was announced March 6. UK General, of Leeds, United Kingdom, provides a range personal lines of insurance products.

PRESS RELEASE

25 May 2017 — 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 Group Ltd (“UK General”) was completed on [24] 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.“

About UK General
UK General, headquartered in Leeds, UK, offers bespoke personal lines niche insurance products coupled with a unique combination of expertise, people, systems and access to underwriting capacity.   UK General creates and delivers a wide range of carefully tailored general insurance products to the UK’s intermediary and affinity marketplace. http://ukgeneral.com

About J.C. Flowers & Co.

J.C. Flowers & Co. is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has invested more than $15 billion of capital in 47 portfolio companies in 17 countries across a range of industry subsectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management. With approximately $6 billion of assets under management, J.C. Flowers & Co. has offices in New York and London. For more information, visit jcfco.com.