Company: Topsail Insurance, Y Yacht
Business Type: Marine Insurance
UK & International Business Sales and M&A News
Topsail Insurance, which provides specialist marine insurance products to the sailing community, has purchased Y Yacht Insurance and Y Yacht Assurances France.
Part of the reason for the sale by the owner and Managing Director of Y Yachts, Barrie Sullivan, to specialist marine insurance provider Topsail was due to the fact that Mr Sullivan had previously worked with the company’s shareholders Ricardo De Cristofano (Director of Underwriting) and Nigel Hawkes (Director of Operations) who have similar underwriting opinions to him.
As part of the deal, Y Yacht team members Claire Froggatt and Helen Webster have joined the Topsail team.
Chris McGowan of Topsail commented:
“This is Topsail’s first acquisition and the Y Yacht account hugely complements our business.
“This is a very exciting time of growth for our company, with our main aspirations being to secure a larger market share in the marine insurance sector, diversify our account and fundamentally, not lose sight of our core customer service values which have got us to where we are today.”
Chris McGowan - Managing Director of Topsail
Topsail, which is based in Brighton, was established in 1996 as a general commercial broker. A restructuring of the company in 2007 led to the consolidation of the business specialising in everything marine related.
Barrie Sullivan of Y Yacht commented:
“For personal reasons indirectly associated to my age I have decided to sell Y Yacht Insurance and Y Yacht Assurances France.
“The essential factor in selecting a purchaser was to preserve and possibly even improve the service provided by the businesses I am proud to have created. I expect Topsail to achieve this.”
Barrie Sullivan - owner and Managing Director of Y Yacht
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