UK insurance broker
Brightside Group has announced it is seeking acquisitions once again, following a year of “right-sizing” the firm.
Managing director of volume lines, Russell Bence said he is keen on talking to small independent brokers who “want a different option to the usual consolidator route.”
“We spent 2016 right-sizing the business, strengthening our panel and making sure our technology investment works for our customer sales and service. We are now turning our attention to inorganic growth – in commercial and personal lines – to supplement our core broking business,” said Bence. “We have already kicked off discussions with a number of individuals and will start to build a pipeline.”
Brightside is also on the hunt for books of businesses covering any part of its portfolio, including van, car, bike, taxi, and fleet.
“We are also keen to talk to acquirers who wish to offload business that doesn’t fit their existing risk appetite,” said Bence.
“I speak to many brokers who want to exit the market, and there are a variety of different models for them to assess. Our strategy with the independent sector is to look for acquisitions where the owners are seeking to take money off the table and exit. I know from our own experience that the market is competitive and challenging, and this is likely to continue for the foreseeable future.”
Related stories:
Top insurance broker announces new director
HPS and Madison Dearborn reveal plans for giant UK insurance group
