Payment protection specialist insurer British Insurance has confirmed it is seeking a buyer.
Managing director Simon Burgess says: "The reason for the sale is to expand. We want to grow which is why we need an injection of capital. Much of the market is in disarray but we are an ethical company and so a buyer will be able to take advantage of this. We’ll fetch a strong price though and a company is buying a strong brand – I think our name is the best in the insurance industry.”
The price for the Burgess owned company could be as much as £25 million.
Payment protection insurance : News update: February 2007