Markerstudy to buy Chaucer’s UK motor business
Deal to be completed in the third quarter of 2015.
Markerstudy has reached an agreement to buy Chaucer's UK motor business, which will extend the group's GWP in excess of £900m.
According to Markerstudy, the deal will increase the number of employees by 430.
The business to be acquired provides motor, commercial property and liability insurance to over 450,000 customers in the UK, with some of the business going through intermediaries and brokers.
Profitability
Kevin Spencer, group CEO, said: "This acquisition will strengthen our core offering
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