Allianz Cornhill has acquired Premierline, the SME specialist intermediary based in Lancaster.
The insurer already had a 20% stake in the business, which was acquired shortly after it replaced Zenith as the main underwriter in 2003. Allianz Cornhill has now bought the remaining 80%.
Premierline will operate as a separate business unit and the existing management team led by founder and chief executive Barrie Wells will remain in place.
Wells said: “Allianz Cornhill has been a valued business partner for some time and I am delighted that we will continue to work together to develop this business still further.”
Simon McGinn, Allianz Cornhill's north and midlands trading director said: “This is a natural development that supports our SME growth plans which will continue to be focused on the intermediary distribution model.”
Related News Stories
Allianz looks to add rehab to EL product
Allianz begins three-year drive for SME
