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Simply Business
From Wikipedia, the free encyclopedia
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Simply Business is a digital broker and agency for small business insurance.[1]
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History
Xbridge, Simply Business’ holding company, was founded by Brad Liebmann.[1] Simply Business was launched in 2005 as an online broker for business insurance and the trading name of Xbridge.[2]
In 2010, Jason Stockwood joined the company as chief executive officer.[3]
In July 2013 the company completed a management buy-out backed by the private equity firm AnaCap Financial Partners.[4] In April 2015, AnaCap sold its stake in Simply Business to Aquiline Capital Partners for £120m.[5]
Simply Business launched their first office in the United States in December 2016.[6] In August 2017, The Travelers Companies acquired the company from Aquiline Capital Partners for approximately $490 million.[7][8]
In November 2018, David Summers, then UK CEO, replaced Jason Stockwood as Group CEO.[9]
In 2021, Simply Business was selected to participate in the Amazon Insurance Accelerator Program to distribute general liability coverage to Amazon sellers.[10] As of 2022, the company's revenue was reportedly £148.6m.[11]
The company is a certified B Corp.[12] As of 2023, the company had over 900,000 customers globally.[13]
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References
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