462: Nick Dashwood Brown of Anexo explains their new contract which will have a “materially positive impact on revenues”

The Vox Markets Podcast

Nick Dashwood Brown, Head of Investor Relations at Anexo #ANX talks about their Major Claims Contract with UK-based broker MCE Insurance, which will have a “materially positive impact on revenues and to enhance earnings from FY 2022”

Highlights

Anexo Group plc (AIM: ANX), the specialist integrated credit hire and legal services provider, is delighted to announce that it has signed a major agreement with UK-based broker MCE Insurance ('MCE') to offer post-accident claims services to all MCE's non-fault insurance customers. This follows motor insurer Sabre Insurance Group plc signing an agreement with MCE which will see it become the exclusive underwriter of MCE's motorcycle policies.

UK-based MCE is independently owned and since its foundation in 1975 has grown to become one of the UK's largest providers of motorcycle insurance. Under the terms of the agreement, Anexo will assume responsibility for dealing with claims from customers of MCE who are victims of non-fault accidents. Replacement motorcycles will be provided through Anexo's credit hire division, DAMS, and customers will be supported in their legal claims against the at-fault insurer by its legal services division, Bond Turner. Where appropriate, claims will include personal injury and damage to possessions and equipment as well as vehicle repair or replacement. Statistics show that motorcyclists are particularly vulnerable to personal injury as a result of non-fault accidents.

Anexo expects the agreement to lead to a significant increase in both the number of vehicles on the road and the number of cases being handled by Bond Turner. The agreement, which is for an initial three-year period, is expected to have a materially positive impact on revenues and to enhance earnings from FY 2022.

About Anexo

Anexo is a specialist integrated credit hire and legal services provider. The Group has created a unique business model by combining a direct capture Credit Hire business with a wholly owned Legal Services firm. The integrated business targets the impecunious not at fault motorist, referring to those who do not have the financial means or access to a replacement vehicle.

Through its dedicated Credit Hire sales team and network of over 1,100 active introducers around the UK, Anexo provides customers with an end-to-end service including the provision of Credit Hire vehicles, assistance with repair and recovery, and claims management services. The Group's Legal Services division, Bond Turner, provides the legal support to maximise the recovery of costs through settlement or court action as well as the processing of any associated personal injury claim.