Moorhouse Group – a leading commercial insurance broker – aims to double in size over the next three years and had considered outsourcing work to South Africa.
Funding support of £550,000 from the Welsh Government has now secured the investment which will go ahead in Caerphilly.
Moorhouse Group offers its services across the UK and operates as a sales intermediary, brokering insurance products and provides a full range of liability insurance, commercial vehicle insurance and professional indemnity insurance.
Its main brands are ConstructaQuote.com and XBroker – the former being an online insurance quote comparison service dedicated to the UK SME market and the later being its broker network business.
It targets niche markets including SMEs and micro SMEs, tradesmen and contractors, with a focus on the construction sector and commercial fleet owners as well as consultants across the country.
The business – founded by entrepreneur Lyndon Wood in 1990 at the age of 19 is now a top 100 UK insurance broker. It currently employs 105 people and the expansion will nearly double staff numbers – creating 89 jobs and safeguarding a further 78.
Lyndon Wood, CEO and business founder commented:
“I am delighted that we are able to press forward with our expansion plans in Caerphilly as this is where the business was founded. Moorhouse Group will be adding over £1.5m of our own funds to the support provided by the Welsh Government and this combined investment will offer significant new growth and development opportunities to our existing loyal workforce.”