County Down insurance business Precise Protect has been bought by London-listed investment group Tavistock Investments for £7 million.
The move will see the Bangor company’s 200 advisors and other staff join Tavistock, which is on the acquisition trail having divested its investment management business last year.
Precise Protect offers clients a wide range of insurance products, including life and critical illness cover, private medical insurance, personal injury and income protection and serves some 37,000 clients across the UK with an average age of under 40 years old. Its business has grown fast and recorded pretax profits of £1.45 million last year on turnover of £6.5 million.
