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.”
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.
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