Group gets FCA go-ahead to buy five personal lines brokers/MGAs
Markerstudy expects to complete its acquisition of Capita’s personal lines insurance businesses on 4 December.
The announcement follows receipt of FCA approval for the deal to go ahead.
Markerstudy revealed on 18 November that it would buy BDML Connect, Lancaster Insurance Services, Delta Underwriting Agency, Hero Insurance Services and Sureterm Direct from Capita for an undisclosed sum.
The combined businesses control £100m of premium and employ 635 staff across three locations.
The sales mark Capita’s exit from high-street insurance business. Capita expects the exit to cost it around £35m.