Gamage and Cosh start Invicta

Steve Gamage, the former operations manager at Woodstock Insurance Brokers, backed by Paul Cosh, formerly with Highway, Hero and Budget, has set up Invicta Insurance Services and is buying four brokers.

Invicta has already bought Ashford-based family-run, independent insurance intermediary Williams Insurance Services. It will be managed by Diana Williams, who is staying on with the business.

Invicta plans to buy other small brokers or portfolios of personal lines policies. It hopes to grow organically from improved renewal retention and new business gained from “a combination of well-proven marketing activity, and by building a network of introducers, including IFAs and commercial brokers, and strategic alliances”.

Stimulating times

Paul Cosh said, “Steve Gamage brought me a well constructed and exciting business plan showing his vision for building a general insurance broker.

“His enthusiasm and experience convinced me to invest in Invicta and to support Steve and his company using my experience of having built three good sized businesses in the past. I am expecting stimulating times over the next three to five years.”

Four brokers bought

Steve Gamage said: “I have agreed terms with vendors to acquire four existing businesses in the South East of England and setup several significant introducing arrangements and strategic alliances.

“I have the support of insurers, finances in place and plan to build to around 50,000 clients by the end of Year Three.”

In their previous companies, both Gamage and Cosh extensively used a number of products supplied by ULR, where Cosh is now commercial director having joined in May last year after leaving LV.

“We are both pleased to announce that ULR has been selected as the sole provider of legal expenses policies and add-on products. We will work closely with ULR to develop further bespoke solutions for Invicta’s clients,” said Cosh.