Colonnade Insurance Brokers for an undisclosed sum.
The Hull-based chain, which is believed to have accumulated debts of over
£1m, approached Colonnade last month in a bid to avoid collapse.
Professional Broking understands that Apex's bankers withdrew its
overdraft facility after its debts continued to mount.
Apex is also believed to owe premiums to some or all of its agency base of
35 insurers and Lloyd's syndicates.
At the time of
The Insurance Age editorial team dig into this week's top stories.Subscribe to our daily newsletter for all the latest news
- Construction firm unable to find insurance due to lack of capacity
- Mactavish criticises industry for "knee-jerk reaction" in hardening market
- Victor reaches out to brokers following CEO change
- FCA reiterates dual pricing concerns
- Fact file: What’s the story with the Ogden Rate?
- FCA warns of Moneysupermarket clone
- Acquis backers Dunedin to pursue more insurance deals