Tasker Insurance Group (“TIG”) starts the year strongly with the acquisition of specialist Broker, Castle Insurance Consultants Limited (“Castle”) which will form part of their retail broker, Tasker Insurance Brokers (“TIB”). With an established tour operators’ proposition and a commercial team with a food and leisure niche, the acquisition of the Lincolnshire based business supports TIG’s strategic growth plans. The acquisition, which has already received FCA approval, took place on the 1 March this year.
TIG’s specialist broker TIB already has hubs in the North West, South East and at TIG’s head office in London, with the acquisition of Castle providing a presence in the Lincolnshire region. TIB had links with Castle prior to the acquisition, as TIB’s specialist tour operator and travel business, Tasker Travel Risk Professionals, acted as Castle’s wholesale broker for their tour operator risks. Castle trades as Tour Indemnity, in both the UK and Ireland.
Castle also complements TIB with their experienced commercial team who, as well as working in the general commercial areas, have a key focus on both the Food & Leisure and Hair & Beauty sectors. Castle have an established affiliation with the Lincolnshire Food & Drink Association.
Speaking of the acquisition, CEO, Robert Organ said, “We are delighted to welcome the Castle team on board. Alan Pattison, the MD of Tasker Travel Risk Professionals, and his team, know them well through our existing trading relationship and we are all excited about our future together”. Mr Organ went on to comment “Completing this transaction is the first in the delivery of our accelerated growth plan, where we are looking to grow our regional footprint through the creation of additional regional hubs across the UK, as well as further expanding our specialist broking capabilities”.
Patrick Parnell, MD of Castle said, “The team at Tasker have been a pleasure to work with throughout the transaction and I am so pleased for my team and clients that they are joining a business that I know will continue to look after them as we have done in the past.” Mr Parnell will be continuing to support the business on a consultancy basis following the sale.
TIG acquired Castle through share purchase and plans to work with the team to grow the existing client base. The Lincolnshire TIB hub provides a new opportunity to attract more talented individuals into the business as their national footprint increases.
TIB Managing Director Ann Bowyer added “As a specialist broker, being able to expand our network into the new area of Lincolnshire is a fantastic way to start the year. We are looking forward to working with the team especially as they already have specialists and connections in areas in which we operate.”
TIB’s last acquisition was in 2016 with Enni-Scheme Commercial Insurance Service and its hospitality practice The Guesthouse Insurer. The Group has seen many changes since with CEO Robert Organ joining in September 2017, COO Graeme Lalley in September 2018 and CFO Jonathan Webber in January 2019. With the established executive team (consisting of MD Ann Bowyer, MD Barry Reynolds and CUO Robert Munden) in place, TIG continues to grow with a key focus on acquiring brokers who are interested in becoming part of the TIG culture.
Robert Organ concluded “It’s a pleasure to welcome new talented people on board into Tasker, a business that is focused on its people and clients. We are growing organically and through acquisition and are keen to hear from people, and businesses, who are interested in the opportunity of growing and developing with us.”
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