IAG UK sells controlling stake in over-50s broker
Gallagher has bought a 78.5% stake in Insurance Dialogue (IDL), a broker which specialises in personal lines insurance for over-50s and trades as Insure4Retirement.
Gallagher bought out Equity Insurance Group’s 51% stake in IDL plus shares from existing IDL management, who now control the remaining 21.5% stake.
IDL employs 172 staff, with around 40 working in management and support roles and the remainder working in its Bournemouth-based call centre, which generates around £11.7m a year in revenue.
Holden said: “We are really pleased to be joining the AJG International group. We were attracted to the weight of AJG in the market and our expertise in outbound call centre activity and marketing will add another dimension to the GHIS business.”
Gallagher Heath Insurance Services managing director Des O’Connor said the IDL team had a lot of experience in the over-50s market. He added: “When the opportunity to make IDL part of our organisation arose, we knew David and the team would be a great addition to our personal lines business.”
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