Sussex-based broker Bennett Christmas has purchased local firm Southwater Insurance Services in its efforts to become the regional leader in the South East.
With the major acquisition, the company gets another £1.2m in gross written premium while extending its regional footprint.
Bennet Christmas struck the deal just a day after it was named the best medium business in the county in 2016.
The broker recently received the Business Matters Award which recognised the firm’s transformation over the past six years and its role in the local community.
In 2015, Bennet Christmas grew its business by nearly a fifth due to strategic acquisitions and strong performance in its underwriting arm.
“The insurance industry as a whole, and regional brokerages in particular, are under unprecedented pressure as competition increases from online sales channels,” said chief executive Mark Bennett.
“Far from being left behind, we’ve remained focused, driven and determined… It’s a strategy that has enabled us to achieve very attractive growth and propelled our relatively small company on to a national stage,” he added.
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