Insurance and leisure company Markerstudy has continued its acquisition spree with the takeover of Lionheart.

The deal has added more than 1,500 policy holders and more than £2 million of premiums to the retail arm of the business, based in Bessels Green, Sevenoaks.

Virtually all staff at Birmingham-based Lionheart – which sells liability, home, car, van, motorbike and commercial insurance – will join Markerstudy.

However the firm’s directors Dave and Alison Wilkes have left the company to pursue new ventures.

Markerstudy retail managing director Russell Bence said: “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 fits perfectly with our retail division strategy for growth, making it an attractive proposition...” - Russell Bence, Markerstudy

“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.”

Markerstudy, which employs 3,000 staff across the UK, has already bought two other insurance firms this year.

It acquired Whitstable-based Chaucer Insurance in June and Gibraltar firm Ultimate Insurance Company in March.

The takeover was brokered by asb law, which has offices in Maidstone.

Corporate finance solicitor Daniel Tozer, who led the deal, said: “This was a great deal to be involved in, delivered in a relatively short timescale.

“The deal fits with Markerstudy’s strategy for growth and we look forward to playing a part in Markerstudy’s continued expansion.”