Ink makes offer for Westinsure

Ink Underwriting has made an offer to acquire the entire share capital of Westinsure.

Mike Smith, MD of Ink Underwriting said: "For a long time, Westinsure has been regarded as a unique network as it is made up of quality local brokers who wish to remain independent and provide a quality service with secure insurers to their local business community. The management team at Ink share many common values and we see a number of synergies in the two businesses coming together.”

Max Hardman, the CEO of Westinsure commented: "Westinsure was keen to find a solution to introduce additional schemes and trading methods quickly and for the benefit of its members, allowing them to continue to trade competitively in the future. The combined premium of Westinsure and Ink would help both parties achieve their respective goals and increase their market presence.”

Mr Smith added: "We have looked at a number of networks but believe that Westinsure’s attributes, combined with our own underwriting capabilities and access to markets, would create the perfect partnership for existing and future members.

"Westinsure’s day-to-day activities, as well as the Westinsure brand, would remain unchanged. We are looking forward to the opportunity of working closely with the members to develop new insurance products and services that will continue Westinsure along its path to create a market leading network."

The offer has been put to Westinsure's shareholders for consultation and approval. The process is expected to complete in August.