Markerstudy sells MGA arm as it looks to sharpen focus on retail operation

Markerstudy Group has sold its MGA arm to Saturn Holdings, the parent company of Tradex Insurance Company.

Called Markerstudy Insurance Services (MISL), the MGA arm specialises in providing motor and home insurance products along with complementary services through insurance brokers.

Markerstudy Group has decided to sell the division as it looks to sharpen its focus on its retail operation.

It stressed that the transaction provides continuity of service for customers, ”with both organisations able to invest more directly in their respective areas of expertise”.

Kevin Spencer, group chief executive at Markerstudy, said: “This is a positive and forward-looking step for Markerstudy. By sharpening our focus on our core strengths, we are better positioned to invest in the areas that matter most to our customers and partners.

”We are confident that this transaction creates the right structure for future success, with clear accountability, strong leadership and a continued commitment to delivering excellent customer outcomes.”

‘Significant step’

Meanwhile, Saturn Holdings said the transaction represents a “significant step” in its ambitions to expand its footprint in the UK insurance sector.

The purchase will bring in-house the services currently provided by MISL.

Mark Summerfield, chief executive at Saturn Holdings, said: “Saturn and Markerstudy have been strategic partners since 2023 and this relationship has provided a significant platform for us to grow. We’ve been able to leverage Markerstudy’s market leading pricing, data and analytics estate, alongside the scale of its operating platform.

“With the acquisition of MISL we have ambitious plans to grow further, strengthening our position in the UK insurance market, broadening our underwriting footprint and exploring new business opportunities.”