Kwik-Fit sells insurance arm

The French owners of car repairs chain Kwik-Fit have agreed to sell its insurance broking arm in a £215m (€260m) deal, it was announced today.

Private equity group PAI Partners is selling Kwik-Fit Insurance Services (KFIS) - which has around 600,000 customers with policies across lines including home, car and travel insurance – to the UK division of Belgian insurer Ageas.