Direct Group delivers a range of MGA and TPA services across the insurance industry and provides solutions to financial institutions, corporates and affinities. These include underwriting, proposition delivery, policy administration, premium collection, distribution services, insurer and captive reporting and comprehensive claims handling services.
Direct Group is an insurance services provider.
LDC backed a management buy-out of Direct Group in 2007.
Since the original investment the business made four strategic acquisitions to successfully diversify its outsourced services offering, including insurance broker Millennium in 2008 to develop its capability in distribution, followed by the Evander Validation Services business in 2010. In 2012 it acquired laptop and mobile inspection specialist Circuit and Simple Insurance.
The strategy has driven sales growth of over 100% since 2007, with revenues growing to £20million, while employees have increased from 70 to 450.
In 2012 LDC exited its investment in Direct Group in a sale to Ryan Speciality Group (RSG). RSG said the deal would significantly strengthen its managing general agent and third party administration capabilities in the UK.
The business rebranded as Ryan Direct Group.
LDC has been a key backer and long-term supporter of our growth strategy over the last five years, which has enabled the management team to transform the business into a well-diversified, market leading player in outsourced services to the insurance sector. CEO, Direct Group