Markerstudy Business, the commercial insurance arm of Markerstudy Group, has declared itself open, subject to regulatory approval, after chief executive Ross Barrington (pictured above) signed off a strategy to lift the unit to £200 million in gross written premium.
Group chief executive Kevin Spencer said the rationale for carving out a standalone division with its own executive team and board was "to bring a focused service to our business customers, delivering the best possible outcomes for them."
Barrington said organic growth will run through brands including Swinton Business, Hughes, CVD, One Insurance Solution and Lloyd's broker Clegg Gifford, now sitting within a single simplified structure with a clear mandate for profitable growth.
The portfolio carries varied pedigree. Clegg Gifford, founded in 1968 and acquired by Markerstudy in 2021, is a Lloyd's broker specialising in motor trade with more than 240 staff and offices in London and Guernsey, the broker's website states.
Hughes, established in Newtownards in 1977 and previously part of Liberty Mutual, brought 85,000 Northern Ireland customers when Markerstudy acquired it in November 2024.
CVD has sold van insurance since 2001, with a niche in non-standard and refused-elsewhere risks, while One Insurance Solution operates within Brightside Insurance Services Group on commercial property, landlord and holiday home cover.
Read more: Markerstudy hit with FCA restrictions
Core lines for the new division comprise motor trade, taxi, non-standard van, courier and fleet, with a cyber product earmarked for near-term launch. Barrington said an agriculture proposition is also in development, alongside refreshed employers' liability and public liability covers. The insurer panel includes Allianz, AXA, Intact, Tradex and Covea.
The launch lands while Markerstudy is still bedding in its transformative tie-up with Atlanta Group. The £1.2 billion merger, completed in June 2024 after CMA and FCA clearance, created a combined business writing roughly £3 billion in annual GWP and employing about 7,300 people, with Ardonagh retaining a 23% stake.
The growth target also sits against a wider group financial picture: 2024 revenue of £694 million and a post-tax loss of £141.7 million, with £136 million in interest payments on close to £1.4 billion of debt accounting for most of that loss.
On an EBITDA basis, the group recorded a £60 million profit, against a £12.9 million loss the prior year.
Looking further ahead, Bloomberg reported in November 2025 that majority owner Pollen Street had begun early discussions with investment banks about a potential London IPO at a valuation of more than £3 billion.
On wholesale, Barrington said the London market remains a focus through Clegg Gifford, with chief executive Toby Clegg's team tasked with reinforcing market position and accelerating growth.
He said the immediate priority was supporting the unit's 400-strong workforce in moving the book towards £200 million and beyond.
