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Norwich Union buys car supermarket Oneswoop

13 April 2004  |  4214 views  |  0 Norwich Union buys car supermarket Oneswoop

UK insurer Norwich Union has acquired London online and telephone-based car supermarket Oneswoop for an undisclosed amount.

Under the deal, Oneswoop's 20-strong London-based telephone sales staff will transfer to Norwich Union.

The insurer says the acquisition will enable it to develop car sales services via both the norwichunioncars.com and Oneswoop.com brands.

Jill Willis, marketing manager for Norwich Union Cars, comments: "As a company the diversification makes perfect sense - we estimate the total spend on motoring in the UK is £63bn a year and insurance costs make up just 12 per cent of that total."

Norwich Union says the buy is the latest move in its strategy to become a one-stop shop for the motorist. The company previously piloted a scheme that enabled customers to buy or lease cars.

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