Telford-based independent life insurance broker LifePolicies Direct has been acquired by Torquil Clark for an undisclosed sum.
LifePolicies Direct will maintain its brand and name. Managing directors Jason King and Simon Platt will maintain their directorship of the business.
The combined turnover of the new group now stands at over 9m with a client base of 100,000, 35,000 coming from LifePolicies Direct.
LifePolicies Direct will relocate to Torquil Clark’s Wolverhampton premises.
King says: “Having experienced rapid growth over the last five years it became clear that we needed to either invest on our own corporate infrastructure or join forces with a like minded company.”
Torquil Clark managing director John Champman says: “The acquisition of LifePolicies Direct doubles our turnover and will send out a clear message to the financial community that we are building a significant business within the financial services sector.”