Hertz UK, a general use car rental company, has forayed into the UK’s vehicle insurance replacement market through the acquisition of CCL Vehicle Rentals (CCL), an accident management provider.

The acquisition will enable the company to target huge growth potential in the £1bn ($1.5bn) car and van insurance replacement market in the UK.

The acquired firm, which delivers various services to the authorized and credit hire market place, will trade as a wholly-owned subsidiary of Hertz.

It will remain investing in modern insurance rental and electronic processing systems, while building relationships with insurers, brokers among others.

Hertz International Group RAC president Michel Taride said, "Hertz’s entry to the UK vehicle insurance replacement market via the acquisition of CCL brings greater choice and an exceptional and comprehensive service to the industry."

CCL, which employs 200 people at six UK locations, registered a turnover of more than $32m (£21m) in 2012.

Through Hertz, Dollar and Thrifty brands, the acquirer manages its car rental business from nearly 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand.

Hertz has been serving the US insurance replacement industry for more than 10 years and is a supplier to more than 90% of the 200 largest insurance companies in the country.