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Granite Underwriting company logo
FINANCIAL | Insurance / Other Insurance
graniteunderwriting.co.uk

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Founded Year

1982

Stage

Private Equity | Alive

Revenue

$0000 

About Granite Underwriting

Granite Underwriting is a specialist underwriter of niche and non-standard motor insurance.

Granite Underwriting Headquarter Location

98 Liverpool Road

Liverpool, England, L37 6BS,

United Kingdom

Latest Granite Underwriting News

Inflexion completes Partnership Capital investment in Granite Underwriting

Feb 10, 2019

January 2019 Inflexion Private Equity is pleased to announce that it has completed a minority investment in Granite Underwriting, a leading specialist motor insurance business. The investment is being made by Partnership Capital Fund I, Inflexion’s dedicated minority investing fund. Established in 1982, Liverpool-based Granite comprises a number of brands which distribute specialist motor insurance, catering to drivers of private hire taxis, black taxis, Uber and other large operators in the sector as well as specialist cover for private car and light commercial vehicles. Its services are marketed through retail branches, price comparison websites, brokers, its own website and a call centre. Granite’s core strength is its data-driven business model, combined with control of the full value chain including distribution, underwriting, claims handling, premium finance, investment management and vehicle hire. The motor insurance market is estimated to be worth £16 billion in the UK, with Granite underwriting over £220 million in 2017. Granite is the clear market leader in the specialist space, with a 25% share of the UK taxi insurance market. Following Inflexion's investment, the business will continue to be run by the existing management team led by founding shareholders Alan Keating and Martin Gowing. I am delighted to have found a partner with relevant industry expertise, as well as a strong understanding of how digital enhancement can help improve our business. These traits combined with their experience as a minority investor made them the right backer for us as we look to increase our market share further. Alan Keating, Managing Director and Co-Founder, Granite Underwriting The management of Granite stand out as talented and ambitious in an industry we know well. Their unique and differentiated business has proven adept at catering to specialist segments within the insurance space to deliver market leading products and we look forward to helping them innovate and grow further.

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