15 September 2015
By Bryan T. Smyth
The Cork based Musgrave Group, which is behind the SuperValu and Centra franchises, has expanded into offering Car and Home insurance policies.
This follows on from the launch of Travel insurance in November 2014.
Listeners to RTE Radio 1 this week will have heard an advert for SuperValu insurance which ends with the mandatory regulatory message
“Musgrave Financial Services Ltd is regulated by the Central Bank of Ireland.”
Musgrave has access to more than 650 SuperValu, and Centra stores around the country which will assist with promoting the new insurance services.
Have Supermarkets in Ireland sold Insurance before?
Tesco Ireland already sell Car insurance, but it is serviced through RSA Insurance Ireland Ltd. Whereas, Musgrave are providing their own insurance, via their own insurance company.
Have Supermarkets in Ireland sold other financial services before?
Retailing legend Senator Feargal Quinn previously tried to enter the Irish banking sector at the end of the 90s by setting up Tusa, which was a joint venture between his then Superquinn supermarket chain and Permanent TSB.
However, after two years, only 10,000 customers has joined. The Tusa business closed in 2001.