Right Choice Insurance Brokers (‘RCIB’) is a motor insurance broker with great insurer relationships, helping to deliver competitive premiums to those customers who typically find it more difficult to buy insurance online. The business uses its unique proprietary software alongside human interaction making it a truly value additive insurance broker.
RCIB was launched by CEO Mike Joseph in 2008 and has grown year on year since and employs more than 350 people. In 2016, RCIB acquired three premium motor breakdown insurance brands from ERS to strengthen the breakdown cover arm of the business.
In June 2018 LDC invested £28m for a minority shareholding in RCIB.
With LDC on-board, RCIB now plans to invest in further developing its proprietary software and technology platform to accelerate growth and capitalise on its strong performances to date.
In November 2018 LDC’s £28m investment in RCIB won ‘Private Equity Deal of the Year’. LDC’s backing of the business was recognised for supporting the business to retain its regional brand whilst expanding.