Management team now owns majority share in broker

Paul Moors Bollington

Broking group Bollington has completed its management buy-out (MBO) from French insurance group Groupama.

The broker, run by chief executive Paul Moors (pictured) first announced the MBO in February this year.

Bollington’s management team now owns a majority of the business through a specially incorporated vehicle Talbot Deane Investments.

Before the MBO, Bollington was part of GUK Broking Services, the UK broking subsidiary of Groupama.

Groupama has been selling its UK-based operations. Its UK underwriting company, Groupama Insurances, was sold to Ageas UK.

The two other members of GUK Broking Services are Lark and Carole Nash. Lark secured its MBO in August 2012.

Carole Nash remains part of GUK Broking Services after Groupama aborted the sale of the broker at the end of last year.