Company specialises in PI for small and medium-sized solicitors
Giles-owned Ink Underwriting Agencies has bought solicitors’ professional indemnity (PI) agency Indemnity Risk Solutions (IRS).
The IRS team, led by Paul Lawrence, will join Ink. IRS will continue to trade under its existing name and operate from its existing premises in London.
Ink said the deal “significantly strengthens” its presence in the solicitors’ professional indemnity market. IRS specialises in PI for small and medium-sized solicitors.
The agency, which was established in 2007, has also expanded into providing PI cover to other professions such as architects and surveyors.
Giles group chief executive and Ink chief executive Brendan McManus said: “Ink entered the wholesale market for solicitor PI for the first time last year and we are excited about the opportunity to expand our presence in this market this year under the leadership of Paul Lawrence.
“Paul’s knowledge of this market is unrivalled, and with Paul and his team on board, we are confident of delivering brokers the necessary expertise and support to allow them to grow their business during the 2012 renewal season.”
IRS’s Laurence added: “IRS is a quality business with an experienced team and we believe that with the benefit of Ink’s infrastructure and management, IRS has significant potential to develop. We share a common approach and value, with many of our key trading partners already shared, and I believe that this bodes well for a successful future together.”