Ambitious motor specialist wants to compete with large UK insurers
Gibraltar based Markerstudy has acquired Zenith Insurance Company, incorporating Link Insurance Company and the UK service company GHL.
Group chief executive Kevin Spencer said: “2010 will undoubtedly be an exhilarating year for us. Our intention is to operate both insurers separately, maintaining both brands.
"We believe in the vibrant UK retail sector and anticipate extending as much support to our broker clients as we have since 2001. Zenith provides us with another powerful weapon in our armoury and will enable us to compete with the larger insurers in the UK."
Markerstudy said it has a £300m GWP target for 2010, to include acquisitions and organic growth, with the Zenith deal securing £140m GWP for the group.
Earlier this year, Zenith's Caribbean based parent company, Guardian Holdings, announced plans to write off its investment in its UK motor operations and dispose of the underperforming business by the end of the year.
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.
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