Markerstudy has confirmed approval from the FCA for their acquisition of Lionheart Insurance.

Based in Birmingham, this specialist insurance broker will add over 1,500 policy holders and more than £2m of premium to Markerstudy’s retail arm of the business.

The directors, Dave and Alison Wilkes, have decided to take the opportunity to invest their time in new ventures, and will be leaving the business, whilst the rest of the workforce will be joining Markerstudy Group of Companies.

Russell Bence, Managing Director of Markerstudy retail, commented "Having had a relationship with Lionheart for many years on our insurer side, we are familiar with both their book of business and the leadership team.

"It’s satisfying to know that we have provided Dave and Alison with the chance to now do other things, whilst taking over a business that has great potential. Predominantly motor trade and commercial business, it fits perfectly with our retail division strategy for growth, making it an attractive proposition".