Broker Fielding Mann was saved from bankruptcy this week when Leeds-based rival, Quote Choice, stepped in to acquire the company.
Fielding Mann brings in around £3m in premium income but following major losses the broker found itself in liquidation with its ten-strong workforce facing possible unemployment.
Quote Choice has agreed to pay Fielding Mann's insurer-creditors an undisclosed percentage of what they are owed, and staff will now be retained.
Managing director Philip Catterall said: “Fielding Mann is a great fit with our strategic direction which is niche business and schemes. I think we can add controls and standards to the business and there is a lot of value added we can bring.”
Fielding Mann handles a wide range of schemes including surgeries, bouncy castles and lottery insurance. Quote Choice's £12.5m book is spread across taxis, motor trade, bikes and other some high-end personal lines business.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
