London-based insurance start-up Gryphon Group has agreed to acquire Guardian Assurance and rights to use its trading names, including immediate rights to use the Guardian name.
Gryphon will use the Guardian brand name for the cloud-based protection business, which is under-development stage.
Gryphon has raised £180m from the City to design, build and launch an insurance challenger to protect more families in the UK.
Gryphon Group Holdings CEO Simon Davis said: “Our ambition is for every family to have protection that they truly believe in. Acquiring the name of Guardian is an extremely important step for us, as it gives us a compelling brand name that fits with our values and goals, just as it did when founded two hundred years ago.
“This name, combined with our culture and fresh approach to technology, will create a really exciting business that can deliver better protection for families across the country.”
Guardian was taken over by ReAssure in January 2016 and was rebranded to ReAssure Life in June 2016.
In March 2017, the company was renamed Guardian Assurance. The disposal of the Guardian trading name to Gryphon has no impact on the policies transferred to ReAssure Limited.