Equity Insurance Group
| Private | |
| Industry | Insurance |
| Founded | 1946 |
| Headquarters | Brentwood, England |
Key people | Ian Parker (CEO) Mark Bacon (Active Underwriter) Sam Hudson (Commercial Director) Katie Wade (CFO) Tim Yorke (COO) Peter Hessey (HR Director) Victoria Cuggy (Company Secretary) |
Number of employees | 680 |
| Parent | Aquiline Capital Partners |
| Website |
ers |
ERS is a specialist motor insurer. It has been providing insurance products for more than 60 years and now provides cover solely via Lloyd’s Syndicate 218. ERS offers a diverse range of products, including private car, classic car, van, motorcycle, taxi, minibus, fleet, haulage, agricultural vehicle and motor breakdown.
History
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.
In April 2013 US Private Equity company Aquiline purchased Equity Insurance Group from IAG for £80 million- this prompted a transformation programme which led to the sale of EDBL and its personal accident and household books to Arista. In April 2013 Equity Insurance Group rebranded to ERS and became a "motor only, broker only" insurer. It now operates solely as A+ rated Lloyd's syndicate 218.