Subject to FCA approval, Markerstudy Group’s latest acquisition combines four businesses from Capita Insurance Services, namely Lancaster Insurance Services, Sureterm Direct, BDML Connect Limited and Delta Underwriting.
BDML Connect, one of the largest personal lines intermediaries in the UK, with a large presence in the personal lines affinity intermediary market, has operations in Portsmouth and Colchester, and was acquired by Capita Insurance Services in 2005.
Established in 1984 and based in St Ives, Cambridgeshire, Lancaster was formed as the insurance division of the MG Owners Club. It rebranded in 1989 to Lancaster Insurance Services to cater for the growing demand for classic car insurance. Sureterm Direct formed in 1989 to focus on 4x4 and other segments of the non-standard motor market. Both businesses were acquired by Capita plc in 2008 and 2010, respectively, and merged into the Lancaster business.
With GWP circa £100m and 685 staff across three locations, this purchase is firmly in line with Markerstudy’s expansion strategy, delivering affinity, niche and broking business to the Group.
Kevin Spencer, Group CEO, commented: “We’re not known for resting on our laurels. This exciting opportunity presented itself, and we acted quickly and decisively. I would like to thank our advisers from IMAS, Olly Laughton-Scott and James Simpson for their services in clinching the deal”.
The three companies of Lancaster, Sureterm Direct and BDML Connect will swell the Retail arm of the Markerstudy business, headed up by Managing Director, Russell Bence.
Note to Editors:
Markerstudy Group was named 18th in The Sunday Times 100 Best Companies to Work For 2013 and won both Employer of the Year and Large Business of the Year at the 2013 KEiBA awards. It includes the insurance arm of the business: Markerstudy Insurance Company Limited and Zenith Insurance plc (acquired in January 2010) plus supporting companies Markerstudy Limited and Zenith Insurance Management UK Limited, providing distribution, claims and administrative support. St Julian’s is the MFSA regulated Insurance company writing EL/PL classes for the Group. The following brands operate within the Markerstudy Retail Division: The Insurance Factory, The Insurance Factory Commercial, Insurance Shop, Insurance Choice, Blagrove Insurance Brokers, Caterer’s Club, Equesure, Mobilers, and Thames City Insurance, all of which offer value and choice to a wide range of customers. In addition, The Markerstudy Group encompasses Auto Windscreens, which joined the Group in February 2011, TCW Group, acquired in June 2011 and Vision Vehicle Solutions Limited, purchased in December 2012.
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Group PR Executive
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