SYNERGY DEAL WILL DOUBLE PREMIUMS AT PLUM UNDERWRITING

Plum Underwriting said it is looking for further acquisitions following the announcement yesterday of its deal to buy managing general agency Synergy Insurance Services from Randall & Quilter. David Whitaker, managing director at Plum Underwriting, said the addition of Synergy together with its recent investment in e-trading will “more than double our premium volume over the next 12 months”. Global Risk Partners Ltd, which owns Plum Underwriting, said it would “continue to seek acquisition opportunities in our chosen segments”. Plum Underwriting said the Synergy team will relocate to Plum Underwriting’s London office. Emma Bennett, Synergy’s director of underwriting, will take on the role of head of private clients. The Synergy brand will continue for its range of high net worth home, contents, travel, fine art and motor insurance products.