Markerstudy Group has boosted its personal lines offering with the purchase of Birmingham-based broker the Insurance Factory - the fourth acquisition the company has made in the last three years, with more in the pipeline.
Markerstudy group acquisitions and new business manager Paul Shipley confirmed that the deal was part of the broker's strategy to focus on specific segments in the personal lines arena.
The group bought niche personal lines broker Bradgate earlier this year, and London-based taxi specialist Quotax.
The Insurance Factory specialises in vehicle cover and the acquisition means that Markerstudy now controls an extra £11m in personal lines and taxi distribution business.
With the Insurance Factory, Markerstudy plans to double the size of the business in 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," said Shipley.
Markerstudy group chief executive Kevin Spencer 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."
