Simply Business Explained

Simply Business is a digital broker and agency for small business insurance.^[1]

History

Xbridge, Simply Business’ holding company, was founded by Brad Liebmann, Ralph Arnold, Deno Fischer and Jim Nelson in 2000. Simply Business was launched in 2005 as an online broker for business insurance and the trading name of Xbridge.^[2]

In 2010, Jason Stockwood joined the company as chief executive officer.^[3]

In July 2013 the company completed a management buy-out backed by the private equity firm AnaCap Financial Partners.^[4] In April 2015, AnaCap sold its stake in Simply Business to Aquiline Capital Partners for £120m.^[5]

Simply Business launched their first office in the United States in December 2016.^[6] In August 2017, The Travelers Companies acquired the company from Aquiline Capital Partners for approximately $490 million.^{[7] [8]}

In November 2018, David Summers, then UK CEO, replaced Jason Stockwood as Group CEO.^[9]

In 2021, Simply Business was selected to participate in the Amazon Insurance Accelerator Program to distribute general liability coverage to Amazon sellers.^[10] As of 2022, the company's revenue was reportedly £148.6m.^[11]

The company has been reported to be a certified B Corp^[12], but as of January 2026 are not listed on the B Labs register^[13] . As of 2023, the company had over 900,000 customers globally.^[14]

Notes and References

1. Web site: Boston digital insurer Simply Business teams up with AmSuisse. 24 March 2023. 22 October 2023. Fintech Global.
2. News: James . Quinn . Travelers to Buy U.K. Insurance Brokerage From Aquiline. The Telegraph . 17 July 2013 . 24 October 2023.
3. Web site: Branwell . Johnson . SimplyBusiness.co.uk recruits Jason Stockwood. Marketing Week . 6 May 2010 . 22 October 2023.
4. News: Quinn. James. 17 July 2013. Simply Business management buy-out. The Telegraph. London. 2013-07-30.
5. News: Oliver . Ralph . Travelers buys Simply Business for £400m in digital push. . 13 March 2017 . 11 May 2021.
6. News: Oliver . Ralph . Travelers to Buy U.K. Insurance Brokerage From Aquiline. Business Insider . 13 March 2017 . 24 October 2023.
7. News: Oliver . Ralph . Travelers to Buy U.K. Insurance Brokerage From Aquiline. Wall Street Journal . 13 March 2017 . 30 October 2023.
8. News: Prussen Spears I . Victoria . Travelers Completes Acquisition of UK-Based Simply Business . 21 January 2024 . Insurance Coverage Law Center . 21 August 2017 . en.
9. Web site: Mark . Richardson. Jason Stockwood takes new role in Simply Business management shake-up. Insurance Times . 19 November 2018 . 30 October 2023.
10. Web site: Simply Business offers insurance to third-party sellers through Amazon. Coverager . 8 November 2023 . 11 August 2021.
11. Web site: Kenning . Emmanuel . Simply Business parent Xbridge posts revenue rise but profits slip. Insurance Age . 8 November 2023 . 21 June 2023.
12. News: James . Findlater . Who are Jason Stockwood and Andrew Pettit? Duo still involved in Grimsby Town takeover after Tom Shutes exit . . 7 April 2021 . 11 May 2021.
13. Web site: List of Certified B Corporations matching the search term "simply business" .
14. Web site: Digital insurer Simply Business partners with Tarmika. Fintech Global . 8 November 2023 . 9 February 2023.