INSURE THE BOX SIGNS NEW EXTENDED LEASE AT QUORUM BUSINESS PARK

JUNE 2017

Largest letting and new jobs on the way as Insure the Box expands its office space by 50% at Quorum Business Park to accommodate growth and support ambitious expansion plans.

Leading Fintech company Insure the Box have taken an additional 12,949sqft on the first floor of building Q11, which takes its total footprint in the building to over 40,000sqft.  The existing lease has been extended so that all the space is now on a 10 year lease term to 2027.  This is the largest letting in the Newcastle suburban office market so far in 2017. Insure the Box is bringing all of its Newcastle staff under one roof enabling even greater communication and collaboration across teams and departments.

Mike Brockman, Founder and CEO at Insure the Box, comments, “The expansion at Quorum Business Park, and the signing of a 10-year lease, is significant on two fronts. Firstly, it gives us the space to grow as we build on the success of our established telematics insurance proposition and by taking over the additional space in Q11, we have had the perfect opportunity to create a working environment that is truly dedicated to the Insure the Box ethos”.

Fergus Trim Director of Broadoak Asset Management said “It has been fantastic to see the continued success at Insure the Box.  They are a great example of a fast growth Fintech company that is helping to boost the Newcastle economy.  Taking 50% more space and making a new 10-year commitment is a great vote of confidence’

Insure the Box is part of the major Japanese insurance group MS&AD having been acquired in March 2015. Launched in 2010, Insure the Box has a clear objective to change the way insurance serves young drivers and to help support safer driving primarily in the 17 -24 age group.