Radius Insurance Solutions swoops for Yorkshire firm

Radius Insurance Solutions has snapped up a Yorkshire firm to boost its offering for couriers and taxis, and to take its first step into wholesale broking.

Milestone Insurance Consultants and Signature Underwriting in Leeds are specialists in business motor insurance.

The combined companies now have a gross written premium of £50m and offices across the UK from Scotland to Essex.

Milestone has had a presence in Leeds since 1979 and remains primarily a wheels-based broker focused on taxis and couriers, with Signature as its underwriting brand.

Radius Insurance is the insurance arm of Crewe-based business services company Radius Payment Solutions.

The acquisition gives Radius Insurance opportunities for cross-selling insurance to its base of fuel card and telematics customers.

Bill Holmes, CEO of the Radius group, said “Insurance is a really important long term market for us and this acquisition gives us more scale and capability to add to the base we have been building organically over the last twelve months.

“Milestone has a strong overlap with the Radius customer base and our expansion into wholesale broking through the acquisition of Signature means Radius can write business on behalf of an underwriter, which will give us greater flexibility to integrate our telematics products with insurance.”

Radius Insurance Commercial Director Matt Kirby said:  As a business services group, Radius can now provide taxi and courier operators not only with insurance but also vehicle tracking and dashcams, vehicle leasing, fuel cards, telecoms and IT solutions and even electric vehicle charging.

“We’re looking forward to designing new types of cover that make use of our telematics capabilities to their full risk-reducing potential.

“These include cloud-based dashcams and driver monitoring that analyses driving style to reduce risky behaviours.”