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Daily Insurance Industry News
Monday 20th of May 2019
January 8, 2008

Peart acquires Performance Marque

by Gill Montia

Story link: Peart acquires Performance Marque

Peart Insurance Brokers, which provides insurance for performance cars, classic cars and bikes, is acquiring Performance Marque a competitor in the high value vehicle market.

Performance Marque is based in Sutton Coldfield and is a subsidiary of Thacker Fairweather, the independent financial advisor.

The move forms part of Peart’s strategy to become a major UK brokers for high value vehicle insurance and Damian Keeling, the firms managing director, has confirmed that the company is seeking further acquisitions.

On completion of the transaction, Performance Marque, which has gross written premiums of almost £1.5 million, will relocate to Peart Insurance’s offices in Kendal.

Peart is continuing to experience strong growth, having increased turnover by almost one-third in the past year and Mr Keeling states: “There are obvious synergies between the two businesses. We want to consolidate our position as one of the major players in the high value vehicle insurance business and this acquisition is part of that strategy.”

The combined businesses will have over 7,000 policyholders and almost £4 million in gross written premiums.

 

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