UK-based Ceta Insurance has purchased niche insurance provider Love Your Hut for an undisclosed sum, Insurance Age has reported.
Founded in 2013, Love Your Hut It provides holiday related insurance cover to tiny houses, beach hut, chalet and their owners.
The acquired firm was originally owned by Precision Underwriting (UK).
Love Your Hut is the first acquisition made my Ceta since it was purchased by its non-executive directors and management funded by Kester Capital in September 2017.
The acquisition is part of Ceta Insurance’s growth strategy.
Ceta Insurance CEO John Bibby was quoted by Insurance Age as saying: “Since acquiring the CETA business we have been working hard to refine our digital platform and marketing capabilities.
“Our ability to quickly integrate new business opportunities such as Love Your Hut into these platforms and drive growth creates a very exciting opportunity for both organic and acquisitive growth.”
Precision CEO Tim Smyth said: “Love Your Hut is a great business and we are pleased that CETA are the acquirer.
“The process was straightforward and the teams at Precision and CETA worked very well together to ensure a seamless transition.”
Ceta distributes policies across niche general insurance sectors directly to the consumers or through brokers and IFA members.