Young drivers’ insurance firm Marmalade of Peterborough is acquired by industry leader
A Peterborough-based insurance specialist for young motorists is under new ownership.
Marmalade, in Alpha Business Centre, Mallard Road, Bretton, where it employs 100 staff, has been acquired by UK’s leading digital multi-brand personal insurance broker, the Atlanta Group.
Marmalade, which focuses on policies for drivers aged under 34, was launched in Peterborough 15 years ago and enjoyed rapid growth.
It writes about 12,500 short term and annual policies a month.
It is the market leader in learner driver insurance and launched the first annual and pay-as-you-go insurance policies which allow young drivers to share a parent’s or grandparent’s car – as an alternative to being added as a named driver.
Nick Moger, majority shareholder and outgoing Chairman at Marmalade, said: “Over the last 15 years I have watched with ever increasing pride the company that my wife Helen, my son Crispin and I founded grow from just us and a few staff based in farm buildings near Peterborough to become what it is today.
“I now feel that it is time for me to retire and I am very happy to hand over the ownership to the Atlanta Group who I know will take it on to the next level.”
Crispin Moger, chief executive of Marmalade, said: “Here at Marmalade we’re delighted to become part of the Atlanta Group, and excited for the future.
“There’s a rising demand for telematics and flexible policies, and we plan to be there to meet it.
“With Atlanta’s systems, resources and expertise we can move further and faster – and offer more young drivers simple and affordable ways to get behind the wheel.”
Ian Donaldson, chief executive of Atlanta, said: “Our strength as a broker is in being able to offer customers different options and different wordings to suit their circumstances.
“There’s no doubt that the under 34s have taken a hard financial hit over the last year.
“With Marmalade we’ll be able to help reward careful driving, keep them moving, and get them on the road to the rest of their lives.
“Crispin and his team in Peterborough are a perfect fit for Atlanta.
“We share the same family firm values and passion for both our people and our customers.
“The acquisition of Marmalade shows our ongoing commitment to offering those customers good value and good service, and strengthens our position as the UK’s leading digital broker.”
Marmalade will join Atlanta’s Swinton, Autonet and Carole Nash motor brands, broadening Atlanta’s reach to young drivers and bringing telematics expertise in the Group.