Mon, 11 Sep 2023 | BUSINESS SALE
Lifesure Group Limited, a provider of insurance broking services for the holiday and leisure industry, has been acquired by global insurance broker Gallagher. Lifesure, which was founded in 1971, sells products including insurance for car and home, holiday caravans, motorhomes, park homes and leisure homes.
Gallagher said that the acquisition would enable it to provide greater support to its significant leisure industry customer base. The market for domestic holidays, caravans and motorhomes has increased considerably since the COVID-19 pandemic, which put serious restrictions on international travel.
Michael Rea, Chief Executive of Gallagher’s UK & Ireland Retail division, commented: “I am very pleased to welcome the Lifesure team and its clients to Gallagher. This thriving business has a portfolio of specialisms that are complementary to our existing business, and provides us with additional scale in niche areas.”
He added: “Lifesure has been established for over 50 years and has a very positive reputation in the specialist holiday and leisure insurance market enjoying high levels of client retention.”
Lifesure Managing Director Paul Reid added that the deal would “provide a springboard for further success” and that the business would “benefit from being part of a leading global insurance organisation and the many opportunities this brings.”
The acquisition will also see Gallagher acquire Lifesure’s sister business Barnes Commercial, which provides commercial insurance solutions for a customer base of small-to-medium-sized businesses. The company, which will join Gallagher’s UK & Ireland Retail division, specialises in a range of industries, including construction, manufacturing, healthcare and veterinary.
Read about the impact of COVID-19 on M&A in the UK's domestic holiday market
The company provides flexible finance solutions for IT and other business asset purchases, working with a diverse client network throughout the UK. The services encompass leasing, hire purchase, refinancing and business loans, which are typically off...
Established since 2020, the company provides strategic sustainability advice to large private and public entities.
Well-founded and managed law company dealing with a variety of privately held work located in Merseyside.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.