THB secures Property Risk Management

London-based specialist insurance company THB has acquired Property Risk Management (PRM) for up to £350,000.

PRM provides a range of risk management services to owners and operators of UK commercial and residential properties. The company reported pre-tax profits of £6,400 in the eight months to April 2009. Following the acquisition, PRM will form part of THB’s risk management division.

Frank Murphy, THB Group chief executive, commented: “This acquisition is an excellent complement to our existing risk management services. We have already invested in this sector with the acquisition of Cardinus in 2007 and with the acquisition of PRM we see exciting opportunities for the further growth of the merged operations.”

In the 18 months ending October 2008, THB reported revenues of £51.9 million and pre-tax profits of £900,000.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

Related Topics