Garratts, a Lancashire based insurance brokers and risk advisors, has secured a contract to arrange tyre warranties worth EUR700,000 in Spain and Portugal. It secured the deal after overcoming competition from several brokers, including global financial services providers.

The firm was appointed by Spanish broker Sanz & Domecq to provide an annual tyre warranty policy, worth around GBP607,349, covering 411 workshops and 180 garages across Portugal and Spain.

According to company, this is the second European contract which already provides cover for a Spanish broker in a separate EUR1m policy. The firm also acts for several international clients including ferry company SeaFrance.

Richard Garratt, co-director of the company, said: “To secure this appointment ahead of some of the world’s leading financial services providers demonstrates the strength, expertise and experience of Garratts and our commitment to providing comprehensive but also competitive insurance cover.”

Garratts Insurance Brokers provides services including risk management and audits, commercial, international and property insurance, and also fleet motor and liability cover.