SALE based Principal Insurance has acquired the Kendal-based specialist motor insurance broking business from Marsh, a global leader in insurance broking and risk management.
Principal chairman Damian Keeling says it is the expertise and experience of the Kendal team which is key to the purchase.
Damian said: “While we’re acquiring an excellent book the real value to Principal of this deal is the specialist knowledge and experience which the Kendal team will bring to our business. They are known throughout the industry as one of the most capable and expert teams when it comes to writing non-standard motor business. This will help consolidate and grow our position in the specialist niche motor markets in which we already have a solid footprint whilst taking us into new specialist territories.”
The deal comes as Principal enjoys significant growth with turnover for the current financial year, which ends on October 31st, set to double.
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