TBIG explains attraction behind taking 70% stake in Magnet
The Broker Investment Group has struck its fourth deal of the year snapping up a 70% stake in Newark-based Magnet Insurance.
Established in 2008, Magnet Insurance writes £3.5m of gross written premium with specialisms including more complex property insurance needs such as non-standard homes (thatch, unoccupied, listed, distressed risks) as well as for residential property owners, commercial property owners, and high net worth homes.
Led by managing director Tony Bound, the broker employs 12 people.
Magnet will continue to trade under its existing brand from its Newark headquarters, the new owner confirmed, with no
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