A major brokerage has made a significant acquisition – with two more reportedly in the pipeline.
According to a report in the Scunthorpe Telegraph
Insurance brokers, based in Northern Lincolnshire, has swooped for Branch Insurance Brokers of Sunderland. The latter has a long-established clientele with the business having been built up for more than 30 years.
already has a presence in the North East and has 14 additional offices across the UK. It describes itself as bridging the gap between small local brokers and large, multinational corporations.
Speaking in the publication, Joe Henderson
, the group’s chief executive commented: “I am delighted to welcome Larry Branch and his staff to the Henderson
Group. HIBL’s prime growth is organic and while this approach continues very successfully, we will always consider opportunities.”
The group already bought out credit insurance specialist The John Reynolds Group earlier in the year – and has set budgeting revenue for 2016 at £35 million.
Specialty broker poaches leader from major insurer