Tradex capacity growing to £450m after Pollen Street deal
As part of the Pollen Street Capital acquisition, Tradex’s capacity is growing from around £100m of gross written premium to £450m, Markerstudy group chief underwriting officer Gary Humphreys told Insurance Age.
“That is the new approved business plan to the annual business level. An additional £350m over the next 12 months,” Humphreys, pictured, stated.
Insurance Age revealed last week that Markerstudy’s owner Pollen Street completed the delayed purchase of the motor trade and taxi specialist insurer on 7 July, after getting the greenlight from the Prudential Regulation Authority.
Pollen Street is keeping Tradex as an independent investment and will not be merging it with any existing portfolio
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