Earlier this year, A-Plan Group announced its ambition to become a top 10 UK commercial broker by 2024 and now the firm has taken another step in that direction, boosting its commercial offering with the acquisition of the Welsh broker Watkin Davies Insurance Consultants Limited (Watkin Davies).
Established in 1978, Watkin Davies is one of South Wales’s largest independent insurance brokers and a well-established regional commercial business, operating a successful specialist national driving school business and serving as a trusted insurance advisor to hundreds of Welsh and UK businesses and individuals.
Watkin Davies, which writes approximately £10 million of gross written premium (GWP), will continue to trade under its existing brand, with the management team and staff remaining in place and operating from their existing branches in South Wales. Following completion of the acquisition, which is subject to regulatory approval, A-Plan Group now operates £250 million of commercial GWP across 40+ commercial offices throughout the UK. The group continues to enjoy strong underlying organic growth, aided by additional growth via 50+ acquisitions over the last five years.
Commenting on the Watkins Davies deal, which is expected to complete in October, Carl Shuker, CEO of A-Plan Group noted that the purchase marks another milestone for A-Plan and its growth ambitions. He highlighted that Watkin Davies is the group’s first acquisition in Wales and “an extremely well-run brokerage with high standards”. He emphasised Watkin Davies’ team and how they fit closely with the A-Plan’s culture and values.
“We’re really looking forward to welcoming the team to the A-Plan Group and supporting them with their future growth plans,” he said, “and adding to the strength of our commercial offering which helps towards our goal of being a top 10 commercial broker by 2024.”
Adding to this, Gina Dixon, managing director of Watkin Davies added: “We’re delighted to be part of this successful and expanding group. A-Plan’s client-focused approach is a natural fit for the ethos on which our company has been built. The strength and reputation of A-Plan will allow us to continue expanding in our core sectors and delivering excellence and value to our clients.”
