Retail business grows to £32m in premium
Markerstudy Retail has made four acquisitions to complement its existing operations in the Midlands.
The acquisitions are Insurance Connections, Mobilers Insurance Services, The Caterers Club and Sandwell Commercial Insurance.
With a combined GWP in excess of £9M, these businesses will trade from one location in Stourbridge, West Midlands.
The Markerstudy Retail business now controls £32m in premium.
In a statement Markerstudy said that it planned develop packaged commercial policies In addition to significantly growing the volumes of existing products.
Complementing Markerstudy’s existing retail presence in the private car market, Insurance Connections specialise in a number of private car niche sectors, trading under the brand names Empathy (for drivers with adverse accident and conviction records), Just for Girls, and 17-24.
Mobilers Insurance Services Limited and The Caterers Club specialise in insurance products for the catering industry.
Former managing director, Dennis Andrews, has agreed to act as a consultant, assisting the Group with business development until his planned retirement next year.
Markerstudy chief executive Kevin Spencer said: "We are delighted to have completed these acquisitions. They reinforce our retail distribution business and propel us nearer to a top 100 broker. Akin to the Markerstudy Group, our retail business has a strong, cohesive team, and strengthening relationships with insurers; I am confident we will deliver exciting results in 2008."
