Deal is subject to regulatory approval and will see Caunce O’Hara staff move over to the insurer.
Markel UK has bought the online freelancer and contractor business of commercial broker Caunce O’Hara.
The deal is subject to regulatory approval and will leave the rest of Caunce O’Hara’s business unaffected.
As part of the deal, staff looking after the online freelancer and contractor books of business will move across to Markel. The team will remain in its existing office in Manchester and keep the Caunce O’Hara brand.
Over the next two years, Markel has stated that founder and director of Caunce O’Hara, Chris Caunce, will support the integration and growth of the transitioning online business.
He commented: “We have shared values with Markel and recognise them as a great company to take forward the online business that we have built. They know the market very well and have excellent tax and legal capabilities, which will enhance and deliver a compelling proposition for the customer.
“I look forward to working closely with the team in Manchester as we support in the transition period over the next couple of years.”
MD of Markel UK, Neil Galjaard said: “This is an important acquisition and strengthens our existing presence in the online market, complementing the Markel Direct business and delivering to those clients that buy outside of the broker channel. It’s a natural fit and extension to our underwriting capabilities.”
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