| Type | Private |
|---|---|
| Industry | Insurance |
| Founded | 1946 |
| Headquarters | Brentwood, England |
| Key people | Ian Foy (CEO) |
| Employees | 1200 |
| Parent | Insurance Australia Group |
| Website | equitygroup.co.uk |
Equity Insurance Group is a UK personal lines and commercial insurer. It comprises two specialist divisions: Equity Red Star, its underwriting arm and Equity Direct Broking, its broking business.
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Equity Red Star, the group’s Lloyd's of London underwriting arm, has been providing insurance products since 1946. It provides private car, classic car, van, motorcycle, taxi, minibus, fleet, haulage, agricultural vehicle, motor breakdown, household and personal accident cover.
Equity Direct Broking Limited operates through customer contact centres and affinity partnerships. Affinity partners include First Direct, Santander, Renault, Nissan, Subaru, Kia Motors, Honda, Mazda and Skipton Building Society.
On 29 December 2008, Equity Insurance Brokers changed their name to Equity Direct Broking due to its owner IAG UK selling their biggest brand, Insure, to Hastings Direct. The group also sold the 70+ high street branches throughout England and Northern Ireland to Swinton Group Ltd.
On 14 August 2009, Equity Direct Broking closed its Southampton office and moved operations for household and motor insurance to Colchester, Essex.
Equity Insurance Group was acquired in 2005 by a consortium combining its management team – led by CEO, Neil Utley - backed by investors Englefield and Duke Street Capital. It is headquartered at Brentwood, Essex. Further facilities are located in Colchester and Swansea.
On 4 December 2006, Australian insurer Insurance Australia Group announced that it would acquire Equity Insurance Group for £570 million. The acquisition was completed on 8 January 2007 and Neil Utley, then CEO, joined the executive team of IAG.