Markerstudy swoops for The Policy Shop
Crawley-headquartered asb law has advised insurance holdings underwriter Markerstudy Holdings on the acquisition of The Policy Shop.
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.
The deal is subject to FCA approval.
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."
Rebecca Burford, who led the asb deal team, added: "It is always a pleasure working with Chris Payne (general counsel) and the team at Markerstudy – their tight timetables keep us on our toes. I am confident The Policy Shop will complement the Markerstudy Group and we look forward to continuing to work with Markerstudy as the group expands."