Gryphon Announces Agreement to Acquire Guardian
Insurance entrepreneurs, Gryphon, announced they have reached an agreement to acquire Guardian Assurance Limited and rights to its trading names, including immediate rights to use the trading names. Gryphon will use the Guardian brand name for the new protection business it is building. Earlier this year, the entrepreneurial firm announced that it had raised £180 million from the City to design, build and launch an insurance challenger that seeks to protect more families in the UK.
“Our ambition is for every family to have protection that they truly believe in. Acquiring the name of Guardian is an extremely important step for us, as it gives us a compelling brand name that fits with our values and goals, just as it did when founded two hundred years ago” – Gryphon Group Holdings CEO Simon Davis
“This name, combined with our culture and fresh approach to technology, will create a really exciting business that can deliver better protection for families across the country. We’re planning to breathe fresh life into the brand with a new look, which will reflect our intention to continuously rethink and reinvent protection for the better “.
Refresher: Guardian was acquired by ReAssure in January 2016. Guardian Assurance Limited was renamed ReAssure Life Limited in June 2016 and its business – which included ~900,000 annuity, life insurance and pension policies in the UK and Ireland – was transferred to ReAssure Limited in December 2016. The company was renamed Guardian Assurance Limited in March 2017.