Premium Choice Founding Directors Redeem Ownership

Thursday 8th December 2011

We are proud to announce that founding directors of Premium Choice now have complete ownership of the business having bought back shares from previous partners with venture capitalist firm, Perseverance.

Co-founders Mark Woods and Richard Dornan, who started the business back in 1999 from offices in Sutton Coldfield, originally sold the shareholding to Optimas, the insurance arm of Perseverance, in May 2007.

Over the following four years, our business which specialises in niche private car, commercial vehicles, motorcycle, non-standard risks and specialist vehicles, has bucked global trends and continued substantial growth from £13m and 80 employees to £40m with 168 employees.

Our directors have the following to say on the takeover:

"We would like to thank our longstanding management team and all our insurer partners for their loyalty, support and commitment in achieving this goal.

"Subject to market conditions continuing to be favourable to our partners we intend to grow the business organically and in a controlled manner moving forward."