Broker Network, the network for independent insurance brokers, has this morning announced its first acquisition of a regional broker.
Subject to regulatory approval, the network has picked up Finch Commercial Insurance Brokers, which has headquarters in Reading and additional offices in Basingstoke, Southampton and the Isle of Wight. The group has enjoyed rapid growth in recent years with more than 50 people on its staff and manages around £20 million GWP.
Broker Network’s CEO Andy Fairchild expressed his enthusiasm for the acquisition, describing Finch as a “strong broking powerhouse” that fits into the network’s culture. Meanwhile, Des O’Connor, Broker Network’s chief commercial officer, outlined what the future will hold for the company.
“Finch Group has a strong reputation and identity within the commercial market and will therefore retain their own brand identity as well as an ongoing sense of independence, but with executive support from me and the Broker Network team to fund their growth and development,” he said.
Speaking in a Press release, Vincent Gardener, Finch’s managing director, also expressed his enthusiasm for the move.
“Having Broker Network as our financial partner provides us with the ability to continue to invest in the acquisition of like-minded brokers, attract the best talent and immediately set us apart from our competitors,” he said. “We are looking forward to utilising the services that Broker Network offers such as Risk & Compliance, Marketing and HR. This support from the Network will allow us to focus on our customers.”
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