Turners Automotive Group has acquired insurance agent Motorplus NZ Limited, with founder Wendy Fenning to join the group as the business development manager for DPL Insurance another company within Turners.
Founded by Wendy Fenning 17 years ago, Motorplus has been an underwriting agent for DPL Insurance for three years. Fenning, who has almost 30 years of experience in the automotive industry, will continue to manage the Motorplus Agent network in her new role at DPL Insurance.
“DPL Insurance and Motorplus have had an underwriting partnership for the last three years, and this is a natural step to further combine forces and simplify the arrangements,” says group general manager insurance for Turners, James Searle.
“The transaction is in line with Turners’ strategy to create scale and deliver benefits for dealers and their customers. Wendy’s experience and networks, combined with the resources of DPL Insurance, add to our ability to continue growth, innovation and development in the market.”
Motorplus currently has about 6,000 policies in force, which will transfer to DPL following settlement of the acquisition.
Turners has been expanding both its insurance and retail operations in New Zealand recently, including Autosure last November, and listed on the Australian stock exchange last month to boost earnings and capital.