The purchase marks TIG’s third acquisition this year as the insurer strengthens its retail proposition

Insurance intermediary and specialist retail broker Tasker Insurance Group (TIG) has acquired Worthing-based Vantage Professional Risks, a division of broker and underwriting business Vantage Insurance Services.

The new purchase will form part of TIG’s specialist retail broking division, operating under its broader retail arm Tasker Insurance Brokers (TIB).

Vantage Professional Risks currently provides insurance and risk management solutions for professionals, such as medical and healthcare experts. This service is expected to add depth to TIB’s existing offering, which centres on tour operators and travel business as well as travel risk professionals.

The acquisition will additionally operate alongside TIB’s technology and life sciences business, Tasker Technology Solutions.

Building the business

Vantage Professional Risks, led by Martin Swann, is TIG’s third acquisition of 2019, following its purchase of Hobbs Broking Limited in June and Castle Insurance Consultants Limited in March.

The business will remain situated in Worthing, further extending TIG’s national footprint; it already operates in the north west, east, Midlands, south east and in London.

Robert Organ, chief executive at TIG, said: “Following our previous acquisition, I said that Tasker Insurance had a clear vision to build our specialist broking capabilities in the areas of technology, life sciences, PI, financial lines and medical malpractice, in addition to extending our regional retail broking footprint.

“Here we are, just five months later, and this acquisition demonstrates that we are successfully delivering on this strategy.”

New territory

“Having decided to develop a professional risks business, I was delighted that Martin agreed to join us to drive it forward. He is well respected within the marketplace and he and his team will be a real asset to our business,” Organ continued.

“At a time when other brokers within the marketplace are reducing their head count, I am delighted to welcome Martin and the team on board.”

Martin Swann, managing director of the professional risks division, added: “I am personally very excited to be joining Tasker Insurance.

“It is a dynamic and fast-moving business with a real focus on its people and clients. I know that both the team and I will thrive in this environment and be able to successfully grow and develop individually and professionally.”