Tasker buys Worthing-based broker

Deal

Group has bought Vantage Professional Risks and developed a professional risks division.

Tasker Insurance Group (TIG) has bought Vantage Professional Risks, a Worthing-based broker which has medical and healthcare specialisms, for an undisclosed sum, Insurance Age can reveal.

The Worthing-based team, led by Martin Swann, will form part of the broker’s professional risks division within the broader retail business, Tasker Insurance Brokers.

This is TIG’s third acquisition of 2019 with the previous two also being of specialist broking businesses – Hobbs Broking and Castle Insurance Consultants.

Specialism
Vantage provides bespoke insurance and risk management solutions for professionals, including medical and healthcare professionals via its Enhance brand, and professional services companies.

The business adds to TIB’s specialist broking division, which already includes the tour operators and travel business, Travel Risk Professionals, and the technology and life sciences business, Tasker Technology Risks.

The acquisition also extends TIB’s footprint into the South, already having hubs in the North West, East, Midlands, South East and at TIG’s head office in London.

Tasker CEO Robert Organ said: “Following our previous acquisition, I said that Tasker Insurance had a clear vision to build our specialist broking capabilities in the areas of technology, life sciences, PI, financial lines and medical malpractice in addition to extending our regional retail broking footprint. Here we are, just five months later, and this acquisition demonstrates that we are successfully delivering on this strategy.”

Drive
He added: “Having decided to develop a professional risks business, I was delighted that Martin agreed to join us to drive it forward. He is well respected within the market place and he and his team will be a real asset to our business.

“At a time when other brokers within the marketplace are reducing their head count, I am delighted to welcome Martin and the team on board.”

Swann, now MD of the Tasker professional risks division, commented: “I am personally very excited to be joining Tasker Insurance. It is a dynamic and fast-moving business with a real focus on its people and clients. I know that both the team and I will thrive in this environment and be able to successfully grow and develop individually and professionally.”

The acquisition will see the business and the team remain in the Worthing area.

Organ has previously spoken about Tasker’s desire to make a number of acquisitions in order to develop a sensible footprint across the UK.

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