News update – NU sale/lease back

Norwich Union has implemented a sale and lease back on 500 company cars after it brought together all its cars through one deal. The insurance company previously purchased and self managed its fleet, but now all of its 2,500 cars will be on a full maintenance contract hire deal with Lloyds TSB Autolease. Gareth Williams, head of UK facilities at Norwich Union, said the deal was designed to simplify matters.