Watchdog Raises Red Flag On £26M Bike Insurance Merger
Law360, London (September 16, 2020, 1:56 PM BST) -- The U.K.'s competition watchdog said Wednesday that the £26 million ($33.8 million) acquisition of bike broker Bennetts Motorcycling Services by insurance holding company Ardonagh Group could result in "higher prices, less choice and worse services" for customers.
The Competition and Markets Authority has flagged the acquisition of motorbike insurance broker Bennetts Motorcycling Services by Ardonagh Group as potentially a bad deal for customers. (AP)
The Competition and Markets Authority said the deal, announced in February, would make Ardonagh the largest motorbike broker in the market, at three times the size of its largest competitor.
Ardonagh, a private equity-backed acquisition vehicle, already owns two other...
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