Randall and Quilter (R&Q) buy high net worth underwriter
R&Q has snapped up high net worth underwriter Synergy Insurance Services (UK).
R&Q bought the entire share capital of the managing general agency, which provides insurance in property, fine art and motor.
Synergy, which has premium income of around £6m, expects to make a small loss in 2011.
Chairman Ken Randall said: “We are delighted to announce the acquisition of Synergy and welcome Emma Bennett and her highly experienced team to R&Q. Synergy has established an excellent reputation within the specialist personal insurance market and will complement our existing MGA businesses.”
Emma Bennett, director of underwriting at synergy, said: “R&Q’s experience and balance sheet strength will provide Synergy with an exceptional opportunity to expand and we are very pleased to be joining the group.”
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