Acquis Insurance Management, the UK-based insurance provider servicing the European asset finance industry, has reported revenues up 36% on last year, driven by the acquisition of new clients in mainland Europe and territorial expansion by Acquis’s international partners.
Finance contracts under management have grown 43% during the past year to a record level of 250,000, with an original asset cost of €3.9bn, said the business. Acquis monitors customer insurance compliance on behalf of its lessor partners, and also provides direct insurance cover for around half of the finance contracts it manages.
Acquis director Nick Leader said: “2017 will be our best year since the business was established in 2009 with many of our international partners extending their relationship with Acquis into new countries over the past 12 months. We have now delivered country expansion programmes to 70% of our international partners – several of which feature in the Leaseurope Top 50 Ranking table – and we expect all of our international partners to have made territorial expansions by the end of 2018.”
Leader said that Acquis was in the process of implementing a further 15 lessor accounts in 11 countries and hoped to grow its client base of 60 funders to 90 by the end of 2019 by building upon existing relationships and gaining momentum in less established markets.
“Key aspects to Acquis’s international success been understanding local leasing market practices, ensuring Acquis’s products are fully compliant with national regulations, and – most importantly – being innovative and flexible,” said Leader. “It would be a mistake to assume that a product that is successful in one market can be copied and pasted into another. Each market is unique and the demands and needs of our clients can vary greatly as we move from one market to another.”