Graphco Ltd, which is the holding company of Uris Group Limited, has acquired distribution and administration business Cavere Group Ltd, which is the parent firm of Cavere Ltd and coverbaloo Ltd.

Cavere Insurance offers a range of general insurance products and services to brokers and other intermediaries, while coverbaloo offers consumer-facing products including home, home emergency and travel insurance. Both brands will remain in place and continue to operate from their existing offices on York.

Derek Coles, chief executive officer of UGL, said: “Cavere has built an excellent reputation over many years through a combination of strong products, great service and long-standing relationships with its brokers and partners.

“Our intention is to build on that rather than change it. Cavere has a strong brand, an experienced team and significant potential for further growth. By bringing that together with UGL’s resources, technology, relationships and operational capabilities, we can give Paul and the team the backing they need to accelerate that growth and develop the proposition further.”

Paul Thompson, chief executive of Cavere Group, added: “We have spent the past 17 years building a strong business and trusted brand and that will remain unchanged. What this gives us is the backing and resources of a larger group, while allowing us to retain our identity, our York office and the team our partners know.”