Markel is serious about ramping up its direct business and has proven it today with a key acquisition.
The UK arm of the firm, Markel UK, which provides insurance, tax and legal services for SMEs, has revealed a move for the online freelancer and contractor business of Caunce O’Hara, the commercial insurance broker, subject to regulatory approval.
In a release announcing the swoop, Markel outlined that Caunce O’Hara will retain its brand and existing office in Manchester while continuing to support its 27,000 customers. Indeed founder and director Chris Caunce will support its integration and growth during the next two years.
“We have shared values with Markel and recognise them as a great company to take forward the online business that we have built,” he said. “They know the market very well and have excellent tax and legal capabilities, which will enhance and deliver a compelling proposition for the customer. I look forward to working closely with the team in Manchester as we support in the transition period over the next couple of years.”
Meanwhile, Neil Galjaard, divisional managing director of Markel UK, expressed his own enthusiasm at the move.
“We’re delighted to be welcoming the freelancer and contractor team to Markel,” he said. “This is an important acquisition and strengthens our existing presence in the online market, complementing the Markel Direct business and delivering to those clients that buy outside of the broker channel. It’s a natural fit and extension to our underwriting capabilities.”