The Markerstudy Group in Britain has formally finalised its acquisition of one of the north’s leading insurance providers Hughes, headquartered in Newtownards.
The move - first announced in July - means that 85,000 Hughes Insurance customers with motor, home, van, travel and commercial policies have joined Markerstudy’s distribution division, led by Ian Donaldson.
Markerstudy - whose sister businesses are Auto Windscreens, VisionTrack and Vision Vehicle Solutions - signalled its intent to acquire Hughes in the summer, but it had to go through various regulatory scrutiny
With its strong presence in the Northern Ireland market, Hughes will be strengthening Markerstudy’s commitment to the region.
Kevin Spencer, Markerstudy Group chief executive, said: “We’re pleased to be welcoming Hughes Insurance into Markerstudy Distribution. The two businesses have worked together for many years and we’re looking forward to building on their excellent reputation in the Northern Ireland market.
“Collectively, we’re committed to continuing to put our customers first and delivering growth and innovation across the portfolio.”
Established in 2001, Markerstudy Group is one of the leading insurance service providers in the UK, protecting more than eight million customers with a comprehensive range of insurance products and services.
It acquired Atlanta Insurance in June this year, expanding the Markerstudy Distribution division, which provides motor, home, SME and pet insurance products in partnership with several of the well-known brands in UK financial services and retail, and through own brands including Swinton, Carole Nash, Marmalade, Budget, Lancaster and Purely Pets.
Also part of Markerstudy Distribution, Clegg Gifford specialises in personal and commercial insurance products and expands the group’s presence into the Lloyd’s of London market.
Hughes Insurance, established in 1977, has built a strong reputation for offering a comprehensive range of straightforward, reliable, and competitive insurance products.
It has grown to become a trusted name in the industry, with over 250 employees.