US giant Fortegra has acquired ITC Compliance for an undisclosed sum.
ITC provides Appointed Representative (AR) status to over 1,000 dealers in the UK, allowing them to motor sell finance and insurance products without having to pay Financial Conduct Authority fees and seek FCA authorisation.
Dealers on its books include JCT600, TrustFord, Glyn Hopkin and Twomey Motor Group.
Fortegra said existing ITC members can “continue to work with insurers and finance providers of their choosing.”
“Today is a milestone for our company, as it further validates our market leadership and industry excellence,” said Matthew Dyer, founder and CEO of ITC.
“Fortegra’s strength and outstanding reputation are traits we will leverage going forward, just as they were important factors in our selection process. I can’t wait for our next chapter.”
ITC also acts as a broker and third-party administrator, complete with bespoke systems and self-funded premium credit.