CCV buys taxi insurance broker

Cullum Capital Ventures (CCV) has acquired specialist taxi insurance broker Hanbury Insurance.

South Wales-based Hansbury also offers other personal and commercial lines business.

CCV said all Hansbury staff will be stay with the business, including the two directors Gareth Prowle and Janet Shaw.

Hanbury Insurance will remain in its current premises in Bargoed. It will retain its name and become part of Motaquote, an existing CCV broker in South Wales.

CCV chief executive, Michael Rea, said: “We had a busy year in 2010 and 2011 will be no different on the acquisition front.

"This is our first deal of the year and we have a healthy pipeline.”

Speaking about CCV's presence in the Welsh market, Rea added: "CCV already has a strong footprint in South Wales for personal and commercial lines insurance through Motaquote and Protectagroup and this latest acquisition will serve to strengthen our offering there.”

Hansbury director Shaw said: “Motaquote has a strong reputation in the valleys and having worked to build up our business we are proud that it is going to become part of a UK-wide group which also values its local links."

CCV's parent company Towergate was handed a £90m warchest for acquisitons last month. Towergate today stepped up its plans, revealing a new head of acquisitions.