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Right Choice Insurance Brokers: Support for the next phase of growth

Minority investment helps the management team of vehicle insurance specialist drive forward.

Sector
  • Financial services

Right Choice Insurance Brokers is one of the UK’s leading vehicle insurance specialists.

Deal type
  • Development capital
Investment

£28m

Right Choice Insurance Brokers (RCIB) is one of the UK’s leading vehicle insurance specialists, helping to deliver competitive premiums to those customers who typically find it more difficult to buy insurance online.

Founded in 2008 by CEO Mike Joseph, RCIB has continued to grow year on year and now employs more than 350 people.

Growth in partnership

RCIB chose to work with LDC in June 2018 when the management team was seeking to further the organic growth of the business.

The £28m investment gave LDC a minority share in the firm and provided the business with the backing it needed to develop its proprietary software and technology platform to accelerate growth.

We’re now at the stage where investment is paramount to enable us to push on to the next phase of our growth plans. Having held a longstanding relationship with LDC, partnering with them was a natural fit and we are excited to move forward with our shared ambition.”
Mike Joseph, Chief Executive
Right Choice Insurance Brokers

Regional recognition, national success

This deal was recognised five months later when it won Private Equity Deal of the Year at the Insider Central & East Dealmakers Awards for supporting RCIB to retain its regional focus throughout the expansion.

We are still in partnership with Mike and his team as they continues to pursue an organic growth strategy.

Awards

Claims Partner of the Year

Insurance Times Awards 2016

Technology Partnership of the Year (Claims)

Tech and Innovation Awards 2016

Private Equity Deal of the Year

Right Choice Insurance Brokers – Insider Central & East Dealmakers