Markerstudy Insurance Group increased its stake in its subsidiary underwriting firm, Planet Insurance Company, following an acquisition of shares from founding shareholder Tony Allen of Allen & Allen Group.
A report said the acquisition would allow a restructuring of Planet Insurance's business to enable direct trading with agents from 1 January 2004. Access to its motor products would no longer be limited to brokers holding a premium line agency.
Markerstudy has appointed Neil Lake as business development director for the Group, and Steve Twindell as operations director. Their responsibilities will include administration of products for both Markerstudy and Planet Insurance, concluded the report.
