Cheviot will integrate its operations into Lycetts’ Newcastle office. The acquisition also brings Cheviot staff, including John Baty, managing director of Cheviot; Helen Hornshaw; and Joel Marks, into Lycetts’ team.
Ian Barclay, Lycetts’ chief executive, emphasised the significance of the deal. “This acquisition represents another exciting step in our growth strategy, enabling us to build on Cheviot’s outstanding reputation and deep community ties,” he said. “As we integrate Cheviot’s expertise into our wider offering, this acquisition enhances our ability to combine the strengths of our regional offices.”
Barclay also welcomed the new additions to the team, highlighting Baty’s expertise with complex property and cyber risks and Marks’ experience in family office and fund management, including a £17 billion Scottish Widows fund.
Baty reflected on the decision to join Lycetts. “Having worked in the Newcastle insurance market for 36 years, I have known Lycetts for a long time and have always valued the way they do business. This is a perfect fit for Cheviot and our clients,” he said.
Charlie Hoult, Cheviot’s founder, a 2024 Champion of Entrepreneurship award-winner and executive chair of Opencast, will continue with Lycetts in an ambassadorial role.
“Cheviot has always prided itself on building lasting relationships with clients and we admire Lycetts’ commitment to the same values,” said Hoult. “Joining forces ensures our clients continue to receive the same high-quality service, now supported by the broader resources of Lycetts.”
Lycetts, headquartered in Newcastle, operates across 16 locations in the UK and provides a range of insurance services, including coverage for agriculture, property, and renewable energy. As part of the Benefact Group, Lycetts allocates its profits to charitable causes.
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