Markerstudy Group

Markerstudy Group
Limited Company
Industry Insurance Underwriting
Founded April 11, 2000 (2000-04-11)
Headquarters Markerstudy House, 45 Westerham Road, Bessels Green, Sevenoaks, Kent, TN13 2BQ
Area served
 United Kingdom
Products Insurance, Windscreen Repair, Vehicle Repair, Accident Management
Services Niche Insurance Solutions
Revenue £1.4 Billion
Number of employees
 2900 (Jan 2014)
Website markerstudygroup.com

Markerstudy Group is an insurance holdings underwriter headquartered in Sevenoaks, Kent. The company was established in 2001 to provide insurance solutions, primarily through a network of UK insurance intermediaries and distribution divisions, where it works with over 3000 nationwide. A privately owned organization which services over 1,750,000 customers and employs more than 2900 members of staff throughout the UK and Gibraltar, generating revenues in excess of £1.4 billion.[1] Since establishment, the company has grown into a large network of businesses and holds 64 companies under the Markerstudy Group umbrella, with offices located nationwide including Tunbridge Wells, Haywards Heath and Chesterfield. The company provide niche insurance, specialising in products for sectors such as: young drivers, high performance, Japanese imports, kit cars, taxis, driving schools and commercial insurance.

Markerstudy History (2001-2013)

The company was formed in April 2000 by British entrepreneurs ‘Kevin Spencer’,and ‘Gary Humphreys’, with beliefs in the intermediary market as a distribution channel for providing insurance.[2] In January 2001 Markerstudy Insurance Company Ltd was set up and became the first insurer established in Gibraltar, underwriting in the UK.[3] Keith Barber joined as Group FD in 2005 and Martyn Holman further joined the Board in 2014 as Commercial Director .

Acquisitions

In 2004 Insurance shop Ltd and Insurance Factory Ltd joined the group to initiate Markerstudy’s retail division. Insurance Shop was established in 2002, based in Birmingham, and supplied taxi insurance to the midlands. The company has expanded into Kent to offer household and funeral vehicle insurance. Insurance Factory, based in Birmingham and Oxford, cater for high risk household, motorbike and motor home insurance. Wessex Finance were also obtained alongside the acquisition, as a sub-prime lending facility to the Markerstudy retail division.

In December 2007 Markerstudy made four acquisitions for the retail division, consisting of Mobilers Insurance Services Ltd, Insurance Connections, The Caterers Club Ltd and Sandwell Commercial Insurance.[4]

In 2010 the Group acquired motor insurer Zenith Insurance PLC, Link Underwriting Agency and GHL Insurance Services, from Caribbean-based financial services group Guardian Holdings.[5][6] Zenith Insurance origins trace back to 1937 when it was formed as a motor syndicate within world-renowned Lloyd's of London, but is now principally known for its broker distributed motor insurance products, including private car, motorcycle and commercial vehicle insurance. They later established Zenith Insurance Management UK LTD, to provide back office distribution, claims, and administration support to the group alongside existing Markerstudy Ltd.

In October 2010, One Media joined Markerstudy after operating as an independent business since 2007. One Media publishes under contract for other brands as well as its own regional magazine.[7]

Auto Windscreens became the next addition to the group in February 2011 following liquidation. On 28 February 2011 Markerstudy purchased Auto Windscreens under the umbrella Trifords Ltd and acquired partial assets and the brand name Auto Windscreens.[8] Part of the acquisition consisted of three freehold sites, including the Auto Windscreens head office in Chesterfield.[9][10]

Markerstudy purchased Oxfordshire based insurer “Blagrove Insurance Broker Ltd” in June 2011. Blagrove took with it an established customer base with 25 years previous experience, specialising in the fleet insurance market.[11] A few days later the group added “TCW Vehicle Repair Group” to the network, which included Tonbridge Coachworks, European Automotive Solutions and Canterbury Accident Repair Specialist.[12] Since the acquisition TCW Group have opened sites in Solihull and Milton Keynes. In November 2011 Markerstudy purchased E J Markem & Son; one of the oldest pawnbrokers in Essex. The company joined the group’s retail division along with Wessex.[13]

In December 2012, the group acquired “Insurance Choice” and “Vision Vehicle Solutions”. Insurance choice is a UK-based insurance broker that offers extensive insurance, including travel, landlord, motor and business insurance.[14] Vision was purchased later in the month to “enable the group to launch an integrated motor service offering to the insurance market early in 2013”. Previously a privately owned company established in 1995, Vision offers accident management solutions nationwide.[15] In July the Group acquired the former Canterbury University campus at Salomans, Tunbridge Wells. In December 2013 the Group purchased BDML, Lancaster and Sureterm from Capita Insurance Distribution.

Supercover, the specialist gadget insurance broker and claims administrator, joined the Retail arm of the Markerstudy portfolio of businesses in July 2014 in a deal worth over £20m.

Operations

Markerstudy Group is organised into two business lines with Intermediary insurance being the primary function, where the company provides insurance via brokers, and the retail division being the secondary function, which provides insurance services directly to customers through Markerstudy distribution centres.

References

  1. ↑ "Markerstudy Group". Broker Expro South. Retrieved 12 February 2013.
  2. ↑ "Jordans Company Search Results". Jordans Limited. 12 February 2013.
  3. ↑ "Markerstudy Insurance Company Ltd". Financial Services Commission. Retrieved 12 February 2013.
  4. ↑ "Markerstudy makes four acquisitions". Insurance Age. 15 April 2008. Retrieved 12 February 2013.
  5. ↑ "Markerstudy to shed £40m GWP after Zenith swoop". Post Online. 6 January 2010. Retrieved 12 February 2013.
  6. ↑ "Markerstudy snaps up Zenith". Insurance Age. 4 January 2010. Retrieved 12 February 2010.
  7. ↑ "We Trade It: Nick Moore". Startups. n.d. Retrieved 12 February 2013.
  8. ↑ "Trifords Limited acquires Auto Windscreens brand name". Fleet World. 28 February 2011. Retrieved 12 February 2013.
  9. ↑ "Auto Windscreens takeover to see 250 jobs saved". BBC News. 3 March 2011. Retrieved 12 February 2013.
  10. ↑ "Auto Windscreens brand acquired by Markerstudy". Insurance Daily. 2 March 2011. Retrieved 12 February 2013.
  11. ↑ "Markerstudy expands with Blagrove acquisition". Insurance Daily. 9 June 2011. Retrieved 12 February 2013.
  12. ↑ "Markerstudy acquires Tonbridge Coachworks". Insurance Daily. 16 June 2011. Retrieved 12 February 2013.
  13. ↑ "Markerstudy add to pawn offering". Insurance Ages. 23 November 2011. Retrieved 12 February 2013.
  14. ↑ "Markerstudy buys Insurance Choice". Bodyshop Magazine. 7 December 2012. Retrieved 12 February 2013.
  15. ↑ "Markerstudy acquires accident management company". Post Online. 19 December 2012. Retrieved 12 February 2013.

External links

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