Sydney-based PSC Insurance Group has bought a majority share in UK group Insurance Holdings Ltd (IHL) and its subsidiaries Carroll & Partners, Breeze Underwriting, Carroll London Markets and Carroll UK.

PSC places 10% of its volume into Lloyd’s, and MD Paul Dwyer says taking a share in Insurance Holdings (IHL) will allow it to participate in the London market and provide the company with global reach.

“We have strong partnerships in key growth areas such as southeast Asia and the Asia-Pacific that will benefit from our investment in IHL,” he said.

Mr Dwyer told insuranceNEWS.com.au that PSC will use its networks in Asia to increase business for the two groups, while IHL can offer some of its specialist services to clients.

Companies in the IHL group are insurance and reinsurance brokers, wholesalers, specialist retailers and managing general agents in the UK and international markets.

Managing general agent Breeze Underwriting specialises in commercial, liability and mini fleet insurance.

IHL has appointed Mike Eagles as Joint MD with Noel Lenihan. Mr Eagles, an Australian based in the UK, will focus on the international and specialist retail business while Mr Lenihan runs the wholesale and managing general agent businesses.

Mr Eagles joined Carroll & Partners earlier this year from OAMPS UK, which then launched legal action against him alleging staff and client poaching.

Mr Dwyer says this action has since been settled.