Thistle Insurance Services, a subsidiary of Jardine Lloyd Thompson Group, has acquired Risk Management Support (RMS) and eWarranty for an undisclosed amount, as part of its plan to expand warranty market.
RMS is a provider of product protection products, while eWarranty is an online warranty management system for insurers.
As part of the acquisition, former Aon Warranty Group managing director Rod Smith will join Thistle. Paul Drake, director and chief underwriting officer of wholesale division at Thistle, will manage the expanded firm.
Thistle CEO Paul Matthews said that the company’s growth strategy is to acquire businesses that share philosophy of matching customers’ specific requirements rather than adapting their needs into existing products.
"The acquisition of RMS marks a significant development for our business as it creates exposure to the warranty market, and provides us with a substantial opportunity to sell and administer warranty and product protection programmes to larger retail and utility companies and affinity groups," Matthews added.