Tasker Insurance Group (TIG) has acquired Lincolnshire-based specialist Broker, Castle Insurance Consultants Limited (Castle), which will form part of its 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 Holbeach business supports TIG’s strategic growth plans. The acquisition, which has already received FCA approval, took place on March 1 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 its tour operator risks. Castle trades as Tour Indemnity, in both the UK and Ireland.
Castle also complements TIB with its commercial team which, as well as working in the general commercial areas, has a key focus on both the Food & Leisure and Hair & Beauty sectors. Castle has an established affiliation with the Lincolnshire Food & Drink Association.
MD of Castle Patrick Parnell will be continuing to support the business on a consultancy basis following the sale.
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.”
“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.
Speaking of the acquisition, Tasker CEO, Robert Organ added: “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.
“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.”