Lockton increases vehicle Racing Presence with buy of united kingdom’s MIS Motorsport

Lockton announced that it has acquired the professional motorsport insurance broker, MIS Motorsport, primarily based in the uk in Guiseley, close to Leeds. Lockton and MIS Motorsport completed the transaction on June 1st, 2014 after receiving regulatory approval.

The blended Lockton MIS crew might be based in the north of england operating out of Lockton and MIS premises in Manchester and Leeds. terms of the transaction had been not released.

Lockton stated that it already “has a presence inside the uk motorsport market and in the US in which it acts for a number of speedway tracks, rallies, and vehicle golf equipment. MIS Motorsport is a marketplace leader in the uk, Europe, and the a long way East in which it's miles a recognized emblem across each marketplace phase from system 1 to Karting, and the sector Rally Championship through to membership Rallies.”

Lockton stated the acquisition could beef up its “providing on this region and supply it a triumphing role in the motorsport enterprise even as helping MIS Motorsport’s growth into the big US marketplace.

Lockton groups LLP companion Paul Jack commented: “Combining MIS Motorsport and our very own business will make Lockton the main coverage and threat consultant to the UK motorsport industry. Culturally, the corporations are properly aligned with a mutual desire for global boom, a compelling presenting to the motorsport industry, and a shared passion for customer support.

Dermot Hanafin, leader government of MIS Motorsport, has unrivalled information of the needs of motorsport clients, and we're overjoyed to welcome Dermot and his team to Lockton.”

Hanafin noted Lockton’s “client-focused technique, ardour for the motorsport enterprise, and international platform” as a great healthy, in combining the “know-how of MIS Motorsport; including that MIS is looking ahead “to future growth and the improvement of the MIS, Lockton Motorsport emblem on the global level.”