Markerstudy completes Northern Irish broker acquisition

Markerstudy Group has confirmed the completion of its deal to acquire Northern Ireland-based broker Hughes Insurance.

The deal will net Markerstudy an additional 85,000 customers across the motor, home, van, travel and commercial insurance sectors, with Hughes becoming part of Markerstudy’s distribution division, which is led by Ian Donaldson. 

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.

Commenting on the completion of the deal, Markerstudy group chief executive Kevin Spencer said: ”We’re pleased to be welcoming Hughes Insurance into Markerstudy Distribution.

”The two businesses have worked together for many years and we’re looking forward to building on Hughes’ excellent reputation in the Northern Ireland market. Collectively, we’re committed to continuing to put our customers first and delivering growth and innovation across the portfolio.”

Exciting chapter

When the deal was first announced in July this year, Hughes’ acting chief executive Bernie McHugh Sonner, 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.”

The completion of the Hughes deal follows the completion of Markerstudy’s Atlanta merger, which saw Markerstudy pay £1.2bn to create a “major new platform” in the personal lines market.