Products: Markerstudy unveils plans for £100m spending spree
As a result of its push into the commercial intermediary arena, Markerstudy is preparing to roll out six new products by the end of summer. The group revealed that its purchase of Blagrove Insurance Brokers was the first purchase in a £100m acquisition spree.
Gary Humphreys, group underwriting director (pictured above), said the purchase highlighted the insurer’s commitment to the SME arena. Overall Markerstudy has a target of adding £100m gross written premium to its books through commercial broker opportunities, making it a top 20 player in the commercial market.
The Blagrove buy was Markerstudy’s first venture in the commercial market and the insurer already has a small liability product for tradesmen, but Mr Humphreys said that, with the hire of
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