Markerstudy has purchased a family-run Midlands broker.
The acquisition of The Insurance Factory means that Markerstudy now controls an extra £11m in personal lines and taxi distribution business.
Colin Gregg, founder of The Insurance Factory, will join Markerstudy's board.
Kevin Spencer, Markerstudy's chief executive, said: “We have been working closely with Colin and his daughter Sara who will continue to run the Birmingham office. When Colin decided that it was time to consider an exit we provided an opportunity for him to ensure staff security. Colin has been welcomed to the board where he will be involved in the exciting developments of the group.”
Paul Shipley, group acquisitions and new business manager, confirmed: “We are undertaking a recruitment drive and plan to double the size of The Insurance Factory within the next 18 months. With rates in the ascendancy and technology key to the future growth of the broker market we are investing heavily in our distribution strategy.”
