Insurance group examining broker and MGA purchases
Insurance and broking group Markerstudy has two potential acquisitions in the pipeline, according to underwriting director Gary Humphreys.
Meanwhile Markerstudy group commercial director Martyn Holman said the company is looking to expand into the SME commercial space.
Speaking to Insurance Times at the Biba conference last week, Humphreys said: “We have acquisitions in the pipeline that we are working on – one in the retail [broking] space and one on the underwriting side.”
He said it was too early to disclose the identities of the potential acquisitions.
Holman, who joined Markerstudy in January from broking group Brightside, where he was chief executive, has been working to integrate Markerstudy’s most recent acquisitions.
The company bought five businesses, including brokers BDML Connect and Lancaster, from outsourcing firm Capita in December 2013.
He is also looking at how the company can expand from the base it has built.
Holman said: “One of the areas I am looking at is to see where we can develop a broader SME commercial offering that we can get out there on the retail side.
“That may lead to opportunities for us to underwrite some of that business as we go forward.”
Holman is also looking at expanding the business by cross-selling and up-selling to existing customers on the personal lines side.
He said: “When we look at the volume of private car clients we have in the retail area, there is zero correlation with how many household policies we have and we have not really gone into cross-selling with any great gusto.
“It is an area we need to be looking at.”