Coversure appoints acquisitions boss

Coversure Insurance Services has appointed Mike Stephenson as their head of acquisitions and affinities.

Stephenson has been with Coversure for 15 years, first as a franchise holder before being made head of commercial product development and the management of affinity relationships.

This new role will enable him to also drive growth via part and full acquisitions by franchise holders to increase the current group GWP of £80m.

John Hooper, group managing director commented that “Many independent brokers have no succession in place and others may wish to sell part of their business portfolio to concentrate on other sectors. We are ideally placed to facilitate a transfer of business to our local franchise holders thereby guaranteeing maximum business retention, continuity of service to policyholders and a fair and equitable exit for the vendor”

Mark Coverdale, group chairman, added “This new development is extremely exciting and although we are very proud that all growth to date has been organic, we feel that the climate is now right for us to enter the acquisition arena. We have a well established, robust business model and our growth strategy is challenging, therefore we need key players on board to achieve our goals. I wish Mike every success in his new role and I am confident that he will play an integral part in our continued growth”