December 2, 2022 08:57 Non Regulatory

Solid Försäkring acquires Car Protect AS

Solid Försäkringsaktiebolag ("Solid Försäkring") has signed an agreement to acquire assets and liabilities in Car Protect AS. Car Protect is a Norwegian insurance broker of car warranties with many years of experience in the Norwegian car market. In recent years, the company has shown annual growth in written premiums of approx. 20% and is expected to show gross written premiums of approx. 20,000 KSEK in 2022. The seller is CEO and owner Torbjørn Lind, who will remain responsible for the car warranty business in Norway.

"Solid Försäkring has over ten years of experience in car warranties on the Swedish market. Through the acquisition of Car Protect, which today constitutes a small operation, we broaden our product portfolio geographically and create an even greater foothold in the Norwegian market", comments Marcus Tillberg, CEO of Solid Försäkring.

The brand Car Protect will remain, and be developed with Solid Försäkring as owner, within car warranties on the Norwegian market.

"With Solid Försäkring as the owner, we have an even greater opportunity to drive further growth in the Norwegian car warranty market. Solid Försäkring has many years of experience with insurance concepts aimed at car warranties and together we will create a market-leading offer in the market", comments Torbjørn Lind, CEO of Car Protect.

The ambition is for Solid Försäkring to take over the business from 1 January 2023.