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Inflexion Private Equity makes minority investment in UK-based motor insurer

Inflexion Private Equity Partners LLP made a minority investment in Granite Underwriting, a U.K.-based specialist motor insurance business.

The investment is being made by Inflexion's Partnership Capital Fund I, which is focused on minority investments.

Granite serves drivers of private hire taxis, black taxis, Uber and other large operators in the sector. It also provides specialist cover for private car and light commercial vehicles.

Granite wrote over £220 million of motor insurance in 2017 and holds a 25% share of the U.K. taxi insurance market, according to a news release.

Granite Underwriting is a trading name for Acorn Insurance and Financial Services Ltd.