The Policy Shop snapped up Markerstudy Holdings
Coventry's The Policy Shop has been taken over by insurance holdings underwriter Markerstudy Holdings.
The personal lines broker has been operational for 21 years and has experienced steady growth year on year. It adds £20m in gross written premium and 70 staff to Markerstudy's business.
The Policy Shop will join the retail division of The Kent company, under the eye of managing director Russell Bence.
He said: "We were approached earlier this year by Sean Byrne, founder and managing director of The Policy Shop.
"Our philosophy is well known; we are keen to assist our fellow brokers in the industry and we're transparent about our acquisitive nature.
"I'm delighted that our discussions have been successful as this business offers genuine opportunity."
asb law's corporate team acted for Markerstudy Holdings on the deal. The acquisition is subject to FCA approval.