Giles makes PI move

Broker Giles announced its first professional indemnity (PI) acquisition as part of plans to triple income in this sector by 2008. The Scottish broker, which hopes to have £15m of PI gross written premium in five years, has bought Bath-based PI specialist Maybury and Maybury. Chief executive, Chris Giles said he fully expected the company to make one more general insurance acquisition before its planned management buy-out in the first quarter of 2005.

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