’Today’s approval is an important step forward in bringing our vision to reality,’ says chief executive

The Competition and Markets Authority (CMA) has given a green light to the proposed £1.2bn merger between managing general agent (MGA) Markerstudy and Ardonagh-owned broker Atlanta Group.

In January 2024, the regulator announced that it had launched an inquiry to look at whether such a deal may result in a “substantial lessening of competition within any market or markets in the UK for goods or services”.

As part of the process, it invited comments on the transaction from any interested party.

In an update today (26 March 2024), the CMA said it had cleared the anticipated merger, which was first announced in September 2023.

“We welcome today’s decision and I want to thank everyone who has been working so hard on this phase of the process,” Kevin Spencer, chief executive of Markerstudy, said.

’Important step’

Atlanta distributes a suite of products through household insurance brands, including Swinton, van specialist Autonet and motorcycle experts Carole Nash.

Meanwhile, Markerstudy offers omni-channel distribution and product propositions across motor, pet, home and commercial.

A statement announcing the merger said the deal aimed to provide a range of insurance products to consumers, including home and motor insurance, as well as employ around 7,300 people across the UK.

The combined business is also estimated to transact over £3bn in annual gross written premium (GWP).

“I said at the time we announced the proposed deal that combining Markerstudy and Atlanta would create a major new player in personal lines, bringing benefits to millions of customers and fulfilling our long-term strategic ambitions,” Spencer said.

“Today’s approval is an important step forward in bringing our vision to reality.”