 | |
| Company type | Private |
|---|---|
| Industry | Insurance |
| Founded | 2005 |
| Headquarters | London, United Kingdom |
Key people | David Summers (Group CEO) |
| Products | Business insurance, Shop insurance and Landlord insurance |
| Revenue | £148.6m million (2022) |
Number of employees | 800 |
Simply Business is a digital broker and agency for small business insurance. [1]
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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