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Daily Insurance Industry News
Monday 24th of September 2018
November 26, 2008

Central Insurance acquires performance car specialist

by Gill Montia

Story link: Central Insurance acquires performance car specialist

Aberdeen-based Central Insurance Services has acquired Peart Insurance Brokers, a specialist in insuring high performance cars.

Peart and its trading arm, Performance Marque, is based in Kendal, where 12 members of staff are employed servicing around 7,000 policyholders.

Customers include over 25-year-olds in possession of Porsches, Aston Martins, Lamborghinis, Ferraris and Maseratis.

On completion of the transaction, the firm will retain its name and Performance Marque brands but employees will transfer to Central.

The new owner has described the £1.5 million acquisition as a valuable add-on service that will benefit some of its existing high net worth private clients.

According to Central’s managing director, Iain Henry, Peart and Performance Marque are well established and highly respected brands that will strengthens the broker’s presence in the prestige and classic car market.

Central Insurance was acquired in a management buyout earlier this year and has ambitious plans for further expansion.

Royal Bank of Scotland has been instrumental in financing this latest deal.
Aberdeen-based Central Insurance Services has acquired Peart Insurance Brokers, a specialist in insuring high performance cars.

Peart and its trading arm, Performance Marque, is based in Kendal, where 12 members of staff are employed servicing around 7,000 policyholders.

Customers include over 25-year-olds in possession of Porsches, Aston Martins, Lamborghinis, Ferraris and Maseratis.

On completion of the transaction, the firm will retain its name and Performance Marque brands but employees will transfer to Central.

The new owner has described the £1.5 million acquisition as a valuable add-on service that will benefit some of its existing high net worth private clients.

According to Central’s managing director, Iain Henry, Peart and Performance Marque are well established and highly respected brands that will strengthens the broker’s presence in the prestige and classic car market.

Central Insurance was acquired in a management buyout earlier this year and has ambitious plans for further expansion.

Royal Bank of Scotland has been instrumental in financing this latest deal.

 

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