Broker strikes third deal of 2018.

Stackhouse Poland has bought legal indemnity insurance specialist Title & Covenant for an undisclosed sum adding £8m of gross written premium to the group.

The Borehamwood-based firm, which also has an office in Bristol, is a subsidiary of Title Investments and has been trading since 2008.

It is the third deal of the year for Stackhouse Poland which snapped up Caprica Healthcare in January and Honour Point in April.

The purchase is the first since group CEO Tim Johnson told Insurance Age in June that it would be striking more deals in 2018.

Brand
Speaking after the latest takeover he confirmed that the brand name would be kept along with both offices and that all 11 staff including managing director and founder David Turschwell were staying with the business.

Johnson also revealed that there were two more deals in “advanced” stage and he “would not be surprised” to complete at least one more before 2019.

Stackhouse Poland’s chairman Jeremy Cary commented: “Our strategy continues to be focused on strong organic growth in our chosen sectors and additionally via acquisition of like-minded companies.

“We are very enthusiastic about the real estate sector and Title & Covenant adds a new dimension to our proposition to clients in this area and is a perfect strategic fit.

“We are really looking forward to working with David and his team and continuing to build our specialist business.”

Next chapter
Turschwell, added: “We have been thinking about the next chapter for a while and it was important that we found a successor firm that enables us to broaden our proposition for the benefit of our clients.

“Our tie up with Stackhouse Poland who already have a meaningful position in the real estate sector will help us to achieve this objective.”

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