Insurance co-op acquires premium products firm

EMPLOYEE-owned insurance and reinsurance broker RK Harrison Group has acquired a small sports car specialist to create a £85m operation in an undisclosed deal.

The firm, which has an operation in Birmingham among seven sites, has bought out Hatfield-based Mercury West Associates (MWA).

MWA employs 15 staff and has an expected turnover this year of £8m while RK Harrison’s revenues last year were £77m.

Originally founded in 1882, RK Harrison specialises in bespoke insurance for private individuals, trade associations, insurance brokers and businesses, both in the UK and Internationally.

MWA was founded in 2004 and specialises in servicing clients in entertainment and professional sports, with expertise in high performance motor insurance.

It says it has established partnerships with several high profile associations including the Professional Footballers’ Association.

A spokeswoman for RK Harrison said there were not expected to be any redundancies as a result of the acquisition, due to there being little crossover between the firms, and MWA would not rebrand.

Its managing director Katie Small will maintain management responsibility for the development of MWA and will also join the management team of RK Harrison Insurance Services, the group’s UK retail arm.

Managing director Stuart Rootham said: “High net worth insurance is an increasingly competitive arena, yet at that top level, the ability to deliver expert products with excellent service is really what makes the difference.

“MWA brings motor expertise as well as the opportunity to offer our broader expertise to new clients in the entertainment and professional sports industries. The synergies are clear.”