News and Press

Liverpool Victoria Friendly Society has acquired ABC Insurance Solutions Limited, a recently formed general insurance business which has well-developed business plans to deliver new propositions to the retail and commercial markets.

ABC was founded in 2005 by a group of insurance professionals led by John O’Roarke, the former Chief Operating Officer of Royal Bank of Scotland Insurance and Group Managing Director of Churchill Insurance.

ABC will become part of Liverpool Victoria’s general insurance business – Liverpool Victoria Insurance Company. John O’Roarke will head that business and become a member of Liverpool Victoria’s Executive Committee.

Fenchurch was exclusive adviser to ABC Insurance, on the deal. Malik Karim, Managing Director and Kevin Cunningham, Director commented: “We approached the investment community to secure funding for the business. After receiving a considerable amount of interest, we concluded that Liverpool Victoria’s proposition was the most compelling offer because it gives the management team an established platform and source of capital to facilitate the creation of a significant force in the general insurance market”.

John O’Roarke commented on the deal: “The Fenchurch team did a first class job for us, initiating our introduction to a wide range of potential funders including our ultimate chosen partner, Liverpool Victoria, as well as demonstrating creativity on the deal structure”.

Richard Lewis and Laura Wilkinson at Lovells advised Liverpool Victoria on the deal.