Birketts has advised leading travel insurer, Staysure Group (Staysure), on its acquisition of ROCK Insurance Group (Rock), an insurance brokerage business. It is hoped that the deal will assist Staysure in remaining ahead of a competitive market by enabling the group to extend its existing service offering and growing its customer base.
Founded in 2004 and based in Northampton, award-winning Staysure employs a staff of over 500 and offers a range of specialist travel policies for groups, individuals and families, as well as those over 50 and people with pre-existing medical conditions. Established in 2001 and based in Crawley, ROCK provides technology-led agile insurance solutions (including fulfilment and administration) for well-known companies including Jet2 and Tesco Bank. It is also the foremost independent supplier of travel, gadget and commercial insurance in the UK. Rock will remain under the leadership of current Managing Director, Antony Martin.
The deal was led by Birketts’ Partner, Ian D’Castro with assistance from Grace Shek (Corporate) and Elizabeth Lo (Corporate). Additional support was provided by Devreaux Gravell and Patrick McCoy (Banking and Finance).
Julian Kearney Chairman at Staysure commented: “Our thanks go to Birketts for their efficiency, their expert corporate knowledge and their joined up approach to client service. We are excited to enter this new chapter in partnership with the Rock team, and to apply Rock’s data-driven approach in order to capture new parts of the market. We look forward to growing the business and embracing new opportunities for success.”
Antony Martin Managing Director at ROCK added: “Joining forces with Staysure was a natural step for Rock given the crossover in our specialist knowledge and service offering. We are confident that Staysure will honour our innovative background and continue to invest in technological solutions for the benefit of clients across the UK.”
Partner Ian D’Castro concluded: “It was a pleasure to work with Staysure on this transaction. This is a very exciting moment for the team, for whom the strategic acquisition of Rock will provide access to additional resources and enable the organisation to broaden its service offering. We look forward to seeing the organisation go from strength to strength over the coming months.”
The content of this article is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this article please contact the author in the first instance. Law covered as at July 2021.