Simply Business

Simply Business is a digital broker and agency for small business insurance.[1]

Simply Business
TypePrivate
IndustryInsurance
Founded2005 (2005)
HeadquartersLondon, United Kingdom
Key people
David Summers (Group CEO)
ProductsBusiness insurance, Shop insurance and Landlord insurance
Revenue£57 million (2017)
Number of employees
800

The Travelers Companies led by Alan Schnitzer announced in March 2017 that it had agreed to acquire Simply Business from Aquiline Capital Partners LLC for an enterprise value of approximately $490 million. The deal was successfully completed in August 2017.[2]

History

Xbridge, Simply Business’ holding company, was founded by Brad Liebmann.[3] Simply Business was launched in 2005 as an online broker for business insurance and the trading name of Xbridge.[4]

In 2010, Jason Stockwood joined the company as chief executive officer.[5]

In July 2013 the company completed a management buy-out backed by the private equity firm AnaCap Financial Partners.[6] In April 2015, AnaCap sold its stake in Simply Business to Aquiline Capital Partners for £120m.[7]

The company is a certified B Corp.[8]

References
  1. "Boston digital insurer Simply Business teams up with AmSuisse". Fintech Global. 24 March 2023. Retrieved 22 October 2023.
  2. "Travelers Completes Acquisition of UK-Based Simply Business". Retrieved 2017-08-09.
  3. "Boston digital insurer Simply Business teams up with AmSuisse". Fintech Global. 24 March 2023. Retrieved 24 October 2023.
  4. Quinn, James (17 July 2013). "Travelers to Buy U.K. Insurance Brokerage From Aquiline". The Telegraph. Retrieved 24 October 2023.
  5. Johnson, Branwell (6 May 2010). "SimplyBusiness.co.uk recruits Jason Stockwood". Marketing Week. Retrieved 22 October 2023.
  6. Quinn, James (17 July 2013). "Simply Business management buy-out". The Telegraph. London. Retrieved 2013-07-30.
  7. Ralph, Oliver (13 March 2017). "Travelers buys Simply Business for £400m in digital push". Financial Times. Retrieved 11 May 2021.
  8. Findlater, James (7 April 2021). "Who are Jason Stockwood and Andrew Pettit? Duo still involved in Grimsby Town takeover after Tom Shutes exit". Grimsby Telegraph. Retrieved 11 May 2021.
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