Hertz storm £1billion UK insurance replacement market with CCL Vehicle Rentals swoop
By Kyle Linsay
Tuesday, June 11, 2013 - 14:27
RAID: Hertz acquire CCL Vehicle Rentals
Hertz are looking to storm the UK car and van insurance replacement market after acquiring accident management provider CCL Vehicle Rentals Ltd.
The car rental company captured Dorset-based CCL to enter the £1billion sector, positioning themselves for potentially huge growth.
CCL, who turned over £21million in 2012 and employ around 200 people across six locations, will operate as a wholly-owned Hertz subsidiary.
They already have extensive experience in providing accident management services to the authorised hire and credit hire market.
Customers will benefit from Hertz’s extensive fleet and network of locations across the UK, with CCL continuing to invest in state-of-the-art insurance rental and electronic processing systems.
CCL, with Hertz’s financial backing, will also continue to build further relationships with insurers, brokers, body shops, and vehicle manufacturers and dealerships.
Michel Taride, Group RAC President at Hertz International, said: “Hertz’s entry to the UK vehicle insurance replacement market via the acquisition of CCL brings greater choice and an exceptional and comprehensive service to the industry.
“Already worth £1 billion in the UK, this segment continues to evolve and we’re excited to be a part of it, especially as it complements our significant off airport expansion plans.
“Building on our existing leasing replacement services and extensive infrastructure in the UK, we will offer a convenient and competitive alternative to the current dominant players.
“We are excited to welcome CCL’s existing management team to ensure the consistency of service delivery and support plans for growth.”
The world’s largest general use car rental brand, Hertz have built a strong US presence in the insurance replacement industry for more than ten years.
Within the US, Hertz is the recognised supplier to more than 90% of the 200 largest US insurance companies and boast approximately 2,400 neighbourhood locations nationwide.
Neil Cunningham, UK & Europe Off Airport General Manager at Hertz UK Limited, added: “Hertz and CCL are a powerful combination to meet the needs of insurers and the wider market.
“Hertz has nearly one hundred years of experience in the vehicle rental market and a track record of innovation and customer service.
“CCL has a reputation for quality service in accident management.
“Its dedicated workforce brings the expertise needed to effectively manage the end-to-end insurance services process – essential for exceptional service provision today and in the future.”
Image courtesy of Ryan Weisgerber, with thanks.