Markerstudy will continue to use Co-op’s CIS General Insurance brand once the deal goes through, Lizzie Smith-Foreman, director of group marketing and communications for Markerstudy Group has told Insurance Age.
The takeover, which is subject to regulatory approval, is Markerstudy’s first acquisition since it was bought by Qatar Re last year.
Markerstudy will pay £185m for the underwriting business with £70m of debt also transferring from Co-op’s balance sheet to the company. It is expected to
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