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Torquil clark buys lifepolicies direct

Independent specialist life insurance broker LifePolicies Direct has been bought by Torquil Clark.

The shares-only sale brings a group with a turnover of over 9m and more than 100,000 clients.

Torquil Clark bought PS Employee Benefits on January 27 and it is expected to confirm three more acquisitions soon.

LifePolicies Direct was formed by IFAs Simon Platt and Jason King in 1999. The two will continue as directors of the firm, which will keep its branding and name. LifePolicies Direct will relocate to Torquil Clark’s Wolverhampton premises.

Managing director King says: “Having experienced rapid growth over the last five years, it became clear we needed to invest in our corporate infrastructure or join forces with a like-minded company.”

Torquil Clark managing director John Chapman says: “The acquisition doubles our turnover and will send a clear message that we are building a significant business.”

James Rowland and Partners protection adviser David Cooper says: “After regulation, you have got to expect mergers and acquisitions.”

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