Markerstudy acquires Lionheart Insurance
Motor insurance provider, Markerstudy, has acquired Birmingham-based Lionheart Insurance for an undisclosed sum.
The deal, which has received approval from the Financial Conduct Authority, adds over 1,500 policyholders and more than £2m of premium to Markerstudy’s retail arm.
Directors, David and Alison Wilkes will be leaving the business while the rest of the workforce will be joining the Markerstudy group of companies.
Russell Bence, managing director of Markerstudy retail, commented, ‘Having had a relationship with Lionheart for many years on our insurer side, we are familiar with both their book of business and the leadership team.’
‘It’s satisfying to know that we have provided David and Alison with the chance to now do other things, whilst taking over a business that has great potential.’
He continued, ‘Predominantly motor trade and commercial business, it fits perfectly with our retail division strategy for growth, making it an attractive proposition.’