Lloyds Development Capital Limited (LDC), a mid-market private equity house and subsidiary of Lloyds Banking Group, has thrown its investment weight behind Uinsure – a cloud-based insurtech that connects financial intermediaries and lenders with a panel of the UK’s insurers.
Headquartered in Manchester, UK. the investment has been made by the the private equity firm, to boost uinsure’s scaling strategy.
Launched in 2007, Uinsure has experience a 27% CAGR since 2014. Since 2022, the company has augmented its technology team, doubling its size. Notably, it has received industry recognition for its UinsureCX product, designed to monitor individuals’ mortgage progress and facilitate timely communications throughout the mortgage cycle.
Founder and Chief Executive Simon Taylor (main picture), formerly of Bankhall, retains leadership of the management team supported by LDC. Martin Schultheiss remains the Group Managing Director, James Fawcett serves as Chief Financial Officer, and Dan Wright acts as Non-Executive Chair. Furthermore, industry expert Peter Thompson, former CEO of BGL Insurance, joins Uinsure as a non-executive director as part of the investment deal.
LDC’s investment, spearheaded by North West Partner Aziz Ul-Haq and Dale Alderson, Partner and Head of North West, alongside Investment Director Grant Goodwin and Investment Manager Camilla Greenwood, reflects a strategic move. The insurtech also received counsel from GP Bullhound for corporate finance matters, Eversheds Sutherland for legal affairs, and Deloitte for debt advisory services. Bank facilities were arranged through HSBC and Santander.
Taylor, CEO of Uinsure, commented on the investment, saying: “Right from the very first meeting, LDC has been aligned with our vision to remove the complexity of insurance for our partners and their customers.
“When we started looking for an investor to support us through our next phase of growth, finding the right partner who shares our culture was extremely important to us. The team at LDC will be working closely to strategically support us with our long term goals, as we explore new markets and grow our network of partnerships.”
Aziz Ul-Haq, partner at LDC in the North West, said: “Uinsure’s recent large-scale investment in its technology means it is perfectly placed to serve its target market by offering a digital-first solution with a competitive edge.
He added: “It has a highly experienced and incredibly ambitious management team whose offering has disrupted the industry and revolutionised the market. We’re looking forward to working with them to help it grow further.”