One Sure's MD on why he bought Staveley Head

Deal

Chris Lear explains why the broker, which went into administration last month, was a good buy for One Sure Insurance.

One Insurance purchased Staveley Head from administrators for an undisclosed sum last week adding £11m in GWP to its portfolio.

Chris Lear, managing director of One Sure, said that the businesses were a good fit for one another.

He told Insurance Age: “The main attraction was the synergy around our product offerings, both organisations specialise in niche motor insurance e.g. motor trade, HGV, taxi, courier and motorhome.

“Sadly a lot of people were laid-off as a result of the administration

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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