The general insurance arm of Medical Insurance Agency this week became the 24th company to succumb to the millions of acquisition-hungry intermediary Towergate.
MIA's non-life portfolio, which has operated for 93 years, handles around £17m in premium income with 27,000 customers. The acquisition takes Towergate's total premium income up to £170m and gives the group a workforce of 470.
Towergate's Peter Callum said: “MIA's general insurance marketing focus makes it an ideal member of the Towergate family and its call centre technology will provide a platform for future acquisitions and client communication.”
MIA's call centre, based in Stevenage, provides motor, home, surgery and locum insurance.
Towergate marketing director Paul Dyer said: “The MIA general insurance brand will be a key vehicle for the group to utilise its marketing and technology skills to confirm MIA general insurance's position as the leading provider of non-regulated insurance to insurance professionals.”
MIA will now focus on expanding MIA Financial Services, its company for IFA's.