Tuesday March 3, 2015
We are delighted to announce that approval has been granted by the Financial Services Commission (Gibraltar) and Financial Conduct Authority (UK) for our acquisition of Ultimate Insurance Company, the independent niche personal lines insurer based in Gibraltar, and Ultimate Pet Partners Limited, the UK administrative arm of the business.
The completion of this deal adds in excess of £30m GWP and affords us a hugely exciting opportunity, with specialist underwriting capability to the intermediary market and a direct route to market of numerous products, including the Purely Pets Insurance brand.
The Ultimate Insurance Company operation will be overseen by Gary Humphreys, Markerstudy Group Underwriting Director, whilst Ultimate Pet Partners Limited will join the Markerstudy retail division, headed by Managing Director, Russell Bence.
Russell said “I am delighted that Brian Lambert and Paul Hampshire are joining us. Originally from the BDML stable, and coincidentally already ‘at home’ in the Connect Centre, Portsmouth, we welcome them to the group. With our existing credentials and enormous expertise in the pet arena, this acquisition will create one of the largest and most dynamic pet facilities”.