A local insurance broker is looking to expand its range of services and take on new staff after one of its long-serving partners become sole stakeholder, with support from Lloyds Bank.
Karen Gill, who has been a partner at insurance broker Russell Meers & Gill for more than a decade, used a six-figure loan from Lloyds Bank to increase her stake in the business and become sole owner. She also used the funds to purchase the business’ trading premises and is planning to modernise the interior of the listed building on Malvern Road in St John’s, Worcester.
Russell Meers & Gill works with around 5,000 businesses and individuals across the country, providing commercial and personal liability insurance for customers including bus and coach fleet firms and independent tradesmen.
As sole shareholder, Gill has ambitious plans for the business, including expanding its footprint and services on offer, as well as growing its current team of seven employees in the next twelve months.
Karen Gill, director at Russell Meers & Gill, said: “It’s been my ambition for some time now to take sole ownership of my own business, and it’s great to be able to do it at a firm I’ve worked at for such a long time. I’m really excited to take the business forward and build on the success we’ve enjoyed over the past few years.
“We’re proud to be a local firm that provides a friendly, bespoke service to all our customers and we want to make sure we maintain this as we continue to grow. The Lloyds team understands our values and is helping us to achieve our ambitions without losing our personal touch. We’re looking forward to continuing to work with them as we embark on the next chapter of our journey.
Damian Robbins, Relationship Manager at Lloyds Bank, said: “Russell Meers & Gill has established a strong reputation in the area, which Karen has played a key role in. Her expertise and drive as sole stakeholder will undoubtedly help the business continue to thrive and we will remain by her side as she embarks on this exciting new chapter.