Maven injects £3m into Altra

The fresh capital will enable Altra to launch its Parker Norfolk & Partners (PNP) subsidiary, which will provide direct sales to corporate entities and wholesale insurance from other insurance brokers. The division will initially offer structured trade credit insurance brokering services and will undertake a recruitment drive.

According to a statement, the business is planning on growing through consolidation opportunities in the Lloyds of London insurance market.

Altra intends to expand PNP over the longer term into an international multi-line insurance business. The management team, led by CEO Alan Wallace and managing director Tracey Anderson, previously founded RK Harrison, which was sold to Hyperion Insurance Group in 2015.

Company
Founded in 2010 and headquartered in Edinburgh, Altra Consultants is an insurance brokerage.

People
Maven Capital Partners – Julie Glenny (investment director).
Altra Consultants – Alan Wallace (CEO); Tracey Anderson (managing director).

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