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Wrightsure Insurance Group’s motor and non-motor books of business have now transferred to Citynet Insurance Brokers following the latter’s acquisition of its London market wholesale operation.
“We are pleased to have found a good home for our successful London wholesale division, and I am sure Citynet will be able to service our agents well and develop the business further,” said Wrightsure chair Ron Powell when the swoop was announced.
“This move allows Wrightsure to focus on and develop its core business from its regional retail offices.”
The deal, financial terms of which were not disclosed, also sees Wrightsure wholesale director Lawrence Shortland as well as colleagues Richard Stiling ACII and Hugh Cleland coming onboard Citynet. Meanwhile the two books of business will now be handled out of the wholesale specialist’s City of London offices on Fenchurch Street.
Commenting on the transaction, Citynet managing director Andrew Walsh described Wrightsure as well respected in the London market for motor and non-motor business.
“Our acquisition of their wholesale business is an excellent move for us and further enables Citynet to reaffirm its position as a leading Lloyd’s and London market wholesale broker,” noted Walsh.
