Underwriting agency Ink has earmarked professional indemnity as an area it plans to expand into foll...
Underwriting agency Ink has earmarked professional indemnity as an area it plans to expand into following its acquisition by Giles Insurance Brokers. The company also plans to enter commercial property, with its new parent predicting it will double in size within two years.
As part of the deal, Giles has also absorbed PDT Insurance Consultants into its expanding operation, adding 60 staff across both Ink and PDT in Rayleigh, Essex.
Ink currently specialises in the provision of liability and printers' insurances, while PDT offers insurance to the construction and printing trade through its combined print insurance scheme. The companies together boast premium income of £22m.
Chris Giles, chief executive of Giles Insurance Brokers, said: "Ink will retain its own identity, as will PDT in the short term. However, we anticipate PDT will eventually become integrated into the Giles structure, which already has 27 branches throughout the UK.
"We have ambitious plans for Ink and foresee doubling the number of staff there within the next two years."
Giles' existing underwriting business Brackenhills will be rebranded as Ink as part of the deal.
In other moves, PDT is about to launch its www.publicliability.com online service, providing per capita public and employers' liability insurance for contractors and associated trades, which Giles will seek to develop in the near future.
PDT is owned by founder Philip Thomas, who will remain with Giles. John Watson is the chief executive officer of Ink and will also continue with Giles.
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