Markerstudy and Atlanta merger approved
Monday June 3, 2024
Markerstudy Group (“Markerstudy”) has announced that the merger between Markerstudy and Atlanta, the personal lines broking business of The Ardonagh Group was approved by the FCA (Friday 31 May), following the CMA’s clearance on 26 March 2024, six months after the proposed merger was announced in September 2023.
On completion, the combined business, known as Markerstudy, will provide multiple insurance products to millions of consumers, including home and motor insurance, and will employ around 7,000 people across the UK. It will transact over £3 billion in annual Gross Written Premium (GWP) and is backed by Pollen Street Capital.
Kevin Spencer, Chief Executive of Markerstudy, comments: “This is a momentous milestone in Markerstudy’s history and one that I’m truly proud of. The opportunities ahead are exciting as we soon welcome over 2,000 colleagues from Atlanta. Our focus for the coming months will be on integration, alongside harnessing the skills, capabilities and experience of our combined Groups to enhance our customer proposition, whilst delivering good customer outcomes and creating significant growth potential.”
A party related to Ardonagh will retain a substantial minority equity stake in the combined business.