Nationwide Companions buys US insurance coverage premium financing providers supplier

WebBank’s wholly owned arm Nationwide Companions PFco has taken over Safety Premium Finance Firm, a Florida-based agency that gives insurance coverage premium financing providers.

Monetary phrases of the deal weren’t disclosed.

A privately held premium finance enterprise, Safety Premium Finance was arrange in 1995.

It allows industrial and shopper shoppers to purchase casualty and property insurance coverage choices in Florida, US.

Nationwide Companions mentioned that the acquisition allows diversification apart from providing it a aggressive benefit and geographic market alternatives.

Nationwide Companions president Bruce Lundy mentioned: “We now have been lengthy impressed with the experience and success of Safety Premium, demonstrated by sturdy buyer loyalty and earned by means of supply of unparalleled customer support.

“Safety Premium’s partnership with Nationwide Companions will permit us to mutually broaden and develop all through Florida and past.”

Nationwide Companions has retained all Safety Premium Finance employees.

Safety Premium Finance president Bert Irigoyen mentioned: “We imagine Nationwide Companions is a robust strategic match for Safety Premium Finance that may permit us to develop exponentially within the Florida market and broaden into different states.

“The Safety Premium Finance staff is worked up to affix forces with the Nationwide Companions staff.”

Earlier this 12 months, WebBank made a strategic funding of $200m in US-based fintech platform iCreditWorks.

The funding will likely be utilized by iCreditWorks to hurry up the industrial development of its omni-channel platform.

iCreditWorks’ platform contains the ‘first-in-market, native cellular App inside the “Level-of-Sale” (POS) sector’.