Burley Group promises growth following Radius deal

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Broker has pledged to expand following the fleet and telematics specialist buying a majority stake in the business.

Burley Group managing director Matthew Mawson has pledged to retain staff and the brand following Radius Payment Solutions taking a majority stake in the broker.

Mawson told Insurance Age: “The staff are all secure and the office remains as is. We will become the insurance centre for Radius.”

Independent
He remarked that Radius, which is behind telematics and fuel card brands Kinesis and UK Fuels, already had a very small insurance operation with 12 staff, which saw the business broking to its own customers.

“That will be coming under the Burley umbrella,” he noted.

Mawson also pledged that Burley would remain an independent broker following the deal.

He said the investment from Radius, which he declined to detail a figure for, would help the business to expand.

Currently, the business has 31 staff and Mawson is looking to recruit new people to grow the sales force and increase Burley Group’s geographic footprint. Particularly, Mawson is looking to develop the broker further in Scotland and the South East and have more staff on the road in those regions.

Technology
Burley Group will also be working with Radius to make use of the telematics expertise of its new owner.

Mawson commented: “We will be looking to work very closely with the telematics side and in-vehicle camera side of the business to develop unique products for the market.”

Mawson said the deal enabled him to remain as MD of Burley Group and he described the tie-up as a “unique proposition”.

Consolidation
He suggested that selling to a more traditional consolidator didn’t appeal because he did not want to completely divest of the business.

“Radius provided a different opportunity as a broker looking to move forward in how we progress our business. I did not want to do a deal with a consolidator – that never worked for me.”

He added: “The link [between Radius and Burley Group] with transportation-based risks enable us to grow the business.”

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