Markerstudy announces plans to purchase broker

Markerstudy has announced that it is set to acquire Hughes Insurance as part of plans to expand in Northern Ireland.

Established nearly 50 years ago, broker Hughes looks after 85,000 customers across the motor, home, van, travel and commercial insurance sector.

The deal will see Hughes join Markerstudy’s distribution division.

Bernie McHugh Sonner, Hughes’ acting chief executive, said: “Joining the Markerstudy group marks a new and exciting chapter for Hughes and our valued customers.

“This acquisition will not only strengthen our capabilities, but also enhance our ability to provide innovative, competitive and comprehensive insurance solutions.

“I look forward to the future with confidence and enthusiasm, knowing that this collaboration will drive growth and innovation for Hughes.”

Division

Markerstudy’s distribution division includes a number of own brand broking specialists, including Lancaster Insurance and BGL Insurance, as well as partnerships with brands in UK financial services and retail.

Kevin Spencer, Markerstudy chief executive, said: “Markerstudy and Hughes have traded together for many years and worked closely on numerous initiatives.

“We’re committed to the Northern Ireland market and are looking forward to welcoming their team and supporting their aspirations to deliver growth and innovation to enhance their customer offering.”