The group has private equity backing and is looking to make acquisitions
The Tasker Group is ready to build on its rebrand last week and grow into new markets.
This is according to Robert Organ, the group’s chief executive who, since replacing founder Paul Tasker in August last year, has been taking the broker in his own direction.
Coming from his previous role as chief executive at Bluefin, Organ has had to adapt to working at a different sized broker specialising is leisure-based SMEs and restaurants.
Tasker deals £40m GWP and employs around 80 people, compared to Bluefin’s £650-700m GWP and 1,500 staff.
“In many ways when you look at the sizes of Bluefin and Tasker Group, they are incomparable,” said Organ.
“But what I found very interesting is has a retail business, a Lloyd’s wholesale business and an MGA. It was a broad church, very similar in that respect to Bluefin, but just a bit smaller.
“There was breadth in the proposition, and having led Bluefin that was something I was comfortable with.”
With private equity backing from Alcuin, Organ is keen to grow Tasker by acquisition and move into new product lines including agriculture, technology and professional indemnity.
Organ is already in discussions with acquiring a broker dealing £8.5m GWP, and hopes to pick up other smaller specialist brokers over the next year as well.
“We’ve got a very clear journey over the next couple of years. Alcuin, may or may not want to carry on with us because PE firms don’t typically hold on to a company for that long.
“I don’t expect them to hold on to Tasker beyond 2021, but for the moment they can see we are still growing and that that’s positive for us.”
Organ has ambitions to open three new offices over the next two years, and is excited about continuing his process of transforming the group. The group currently has three offices in London, Dartford and Stockport.
He said: “We went through a period where we weren’t growing, but now we are growing again across the business.
“If we can compliment that with a few acquisitions, with a really great management team in place then we are a different business to what we were a couple of years ago.”
But Organ draws a line between how Bluefin made acquisitions to how Tasker will make acquisitions.
He said: “Finding the right-mided business owners for who it isn’t all about money is important. I don’t want someone to just sell and leave, I want them to sell and at least someone senior in that business to become part of our business.”
Organ has been quick to leave his mark on the business. As well as the rebranding, he has brought in a new chief finance officer and chief operating officer.
His standing in the industry has also contributed to an additional £20m of capacity offered through AXA.
And Organ says he is enjoying the benefits that come with leading a smaller broker.
He said: “Being smaller you are more able to focus on the important things. You’re closer to the customer, closer to the people, you’ve got less of the corporate distractions, less committees and less hoops to jump through.
“Certainly as a leader of the business, managing these processes can keep you very busy and get in the way of doing the business side of things. It’s refreshing to be in a job where I can make a real positive impact.”
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