Hertz Enters Vehicle Insurance Replacement Market In The UK Following USA
LONDON, June 11, 2013
- Acquisition of CCL, a leading national accident management services
provider, accelerates Hertz's entry to the US $1.5 billion car and van
insurance replacement market in the UK
LONDON, June 11, 2013 /PRNewswire/ -- The Hertz Corporation (NYSE: HTZ), the
world's largest general use car rental brand, announced that Hertz UK Limited
has acquired CCL Vehicle Rentals Ltd (CCL), a leading national accident
management provider headquartered in Dorset, UK. The move positions Hertz for
huge growth potential in the £1 billion (US$1.5 billion) car and van insurance
replacement market in the UK. In addition, Hertz builds upon its strong track
record of success in the United States where it has served the insurance
replacement industry for more than 10 years.
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CCL offers a comprehensive range of services to the authorized and credit hire
market place. CCL will operate as a wholly-owned Hertz subsidiary, with its
customers benefiting from the car rental provider's extensive fleet and
network of locations across the UK as well its range of innovative products
and services. With the financial backing of Hertz, CCL will continue investing
in state-of-the-art insurance rental and electronic processing systems while
building further relationships with insurers, brokers, body shops, and vehicle
manufacturers and dealerships.
"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," commented Michel
Taride, Group RAC President at Hertz International. "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."
Neil Cunningham, General Manager, UK & Europe Off Airport 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."
CCL is a leading national provider in the UK, with extensive experience in
accident management services to the authorized hire and credit hire market.
The company posted a turnover in excess of US$ 32 million (£21 million) in
2012. Having built a reputation for exceptional customer service the company
now employs approximately 200 people across six UK locations. Following the
acquisition, CCL will continue to utilize its bespoke and innovative
technological solutions, but will also benefit from the support of the growing
network of Hertz locations and wide range of quality vans and cars.
Within the US, Hertz is the recognized supplier to more than 90% of the 200
largest US insurance companies, and boasts approximately 2,400 neighbourhood
The Hertz Corporation ( www.hertz.com ) operates its car rental business
through the Hertz, Dollar and Thrifty brands from approximately 10,400
corporate, licensee and franchisee locations in North America, Europe, Latin
America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is
the largest worldwide airport general use car rental brand, operating from
approximately 8,800 corporate and licensee locations in 150 countries. Hertz
is the number one airport car rental brand in the U.S. and at 111 major
airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and
franchisee locations in 80 countries.
Hertz is in its 95th year of delivering quality car rental solutions to
leisure and corporate customers. Product and service innovations such as Hertz
#1 Club Gold, Worldwide Online Check-in, specially designed NeverLost®
satellite navigation systems, and unique cars offered through the company's
Prestige, Family, Fun/Adrenaline and Green Collections, set Hertz apart from
Hertz Press Contact
Alexis Darby Luke Campbell
T: +44 (0) 207 611 3764 T: +44 (0) 207 611 3735
E: firstname.lastname@example.org E: email@example.com
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