Already the largest network for independent insurance brokers in the UK,
Broker Network has now got even bigger with a deal for Lincolnshire-based Thompson & Richardson Ltd.
Following on from its acquisitions of
Finch Group in October 2016 and its
swoop for Boyd Insurance in May this year, the network has now picked up a firm that was established back in 1964 and is one of the largest independent insurance brokerages in the county. It currently boasts around £27 million GWP and is largely focused on commercial lines business with 75 staff members and offices in Sleaford, Grantham, Lincoln and Boston. It is led by Chris Travers and his senior team – all of whom are expected to stay on with the brokerage.
“I am delighted that we are partnering with Broker Network for the next stage of our development,” noted Travers.
“Our management team are excited about forging a strong business alliance with a like- minded commercial partner which will enable us to further strengthen what we believe to be an already successful company.
“It was vital for us when choosing a partner that they enable us to maintain our client relationships in the same way we always have and Broker Network was the perfect fit.”
“Broker Network Partners is gaining real momentum as a result of our unique position within the market,” added Des O’Connor, Broker Network’s chief commercial officer. “We have made it clear that we want to support the growth of regional brokers and grow our network of regional partner centres across the UK; this latest investment proves that we are delivering on our strategy.
“The investment into Thompson & Richardson will provide us with a strong platform in the East. The senior management team at Thompson & Richardson is extremely strong and they have a real opportunity to further grow the business. I look forward to supporting Chris and the team with their future acquisition plans across the region.”
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