More than 300 jobs have been save thanks to a Sussex-based insurance giant.
Royal and Sun Alliance (RSA), which has its headquarters at Horsham, safeguarded the jobs at collapsed Independent Insur-ance after agreeing to buy its property and casualty services (PCS) arm for almost £3 million.
The division is a key part of the Independent group, selling cover to commercial clients and high-income individuals.
All jobs within the arm will transfer to RSA under the deal agreed with Independent's liquidator, PricewaterhouseCoopers.
RSA will process existing claims on behalf of the liquidator but will only pay out on claims made by PCS customers from yesterday.
The customer base includes Pizza Express, Surrey County Cricket Club and the London Fire Brigade.
Paul Spencer, RSA's UK chief executive, said: "This acquisition is another step forward in truly different-iating ourselves in the market place.
"Our priority is to achieve a seamless transfer of the business and communicate our plans to both employees and customers."
Last month, RSA took over 250,000 of Independent's council tenant insurance policyholders.
A web site has been set up to help businesses affected by the collapse of Independent. It is at www.ciig.co.uk
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article