Insurance broker network Movo Partnership has acquired CCS Insurance, which will be trading as Movo Woking.
In an emailed release, Movo said its eighth swoop will bring an additional £1.8 million in gross written premium (GWP) to the group, which is known for “preserving the integrity” of independent broking.
“Acquisition by a consolidator was not an attractive option for [CCS Insurance], which is proud of its 40-year heritage and keen to protect its long-standing client relationships,” noted the network. “Joining Movo offered the majority owner an exit route, while ensuring that remaining director Andrew Gibbs and his team retain control.”
Under the Movo umbrella, the team in Woking will upgrade to Acturis and gains access to centralised back-office functions.
“We’re thrilled to welcome the CCS team to the group,” said Movo managing director Lea Cheesbrough. “They are a true heartland broker, regional professionals who care passionately about their clients. They do not want to lose control of their business but need the support to expand.
“This is exactly why we exist. We want to invest in brokers that want to grow and service their local area. It’s imperative that local broking stays local, and we are committed to making sure independent brokers survive and thrive.”
Manned by 30 people, Kent-based Movo writes £70 million in GWP and has 80 members.
