ECI Partners backs Avantia MBO

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insurance contract formMid-market firm ECI Partners has backed online property insurer Avantia Group by participating in its £57m management buyout.

ECI said that the company returns a quote to 97 per cent of its customers, which is nearly 25 per cent more than its closest competitor.

It added that more than 80 per cent of its new customers are in what other insurers would deem to be ‘difficult to insure’ risk categories.

ECI investment director Paul McCreadie said, “HomeProtect and its parent Avantia have a unique product offering with market-leading online technology and very strong growth prospects.

“ECI’s investment into Avantia will help to accelerate this growth in both existing and new markets. We look forward to working with (CEO Phillip Walker) and his team to realise HomeProtect’s strong potential.”
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