Coversure management completes MBO
New private equity backers to fund expansion via takeovers as well as new locations and services.
Chief executive Bob Darling and the management of Coversure Insurance Services Group have completed a management buyout backed by private equity firm Livingbridge.
The deal covers the insurance broker franchise, online wholesaler Policyfast, specialist underwriters CUL and software house Datamatters.
Coversure was founded by Mark Coverdale in 1986.
It started with one office in Huntingdon and has grown organically to have over 90 offices across the country with £116m of gross written premium
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