Primary Group has announced the acquisition of Travellers Protection Services (TPS) for an undisclosed sum.
TPS is a Norwich-based insurance intermediary specialising in both indirect (‘affinity') and direct sales of travel and other insurance products.
Primary Group said TPS would significantly strengthen UK Underwriting, the underwriting agency within Primary Group which provides a range of underwriting, administration and claims management skills into focused general insurance markets.
Paul Smith, chief executive of UK Underwriting, said: “We have had a long and beneficial trading relationship with TPS, which was expanded last year when they accepted the contract to provide the call centre and administrative services in support of another Primary Group company."
Stephen Thorley, chief executive of TPS, said: “This is excellent news for TPS and for our customers. Our customers will know that we are backed by the resources of a substantial group, and we expect that the growing scale of our operations centre will allow us to provide continuous, professional improvement in our services.”
The transaction has been completed with FSA approval.
Stephen Thorley will remain as chief executive of TPS after the acquisition, which is effective immediately.
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.
