It’s a baker’s dozen for Ethos Broking, which has taken its tally of regional hubs up to 13 with a swoop for London’s Chambers and Newman.
The acquired brokerage, which is approaching its 75-year diamond jubilee, gives Ethos a foothold in London as it continues to expand across the UK. The firm, which handles more than £20 million GWP and focuses on commercial lines, will continue to be led by managing director Alan Smith.
“We are delighted to be joining Ethos Broking knowing that their client values and outcomes align with ours, especially being able to access products and facilities that will further benefit our range,” he said. “These are exciting and challenging times for independent brokers and this deal gives us the support and investment necessary to develop our business well into the future.”
The entire team of 21 will join Ethos Broking as part of the deal, while its Piccadilly-based office will also be retained.
“Chambers and Newman are the ideal cultural fit for Ethos Broking and I am thrilled to welcome them as our 13th regional hub,” said Ethos Broking MD Richard Tuplin. “The team are exceptionally skilled and have loyally served their clients for a great many years, and I’m pleased that we can invest in the legacy of this highly regarded brand and support Alan and the team in continuing to do what they do best. Their strong focus on property owners and bespoke in-house claims handling service makes their proposition unique in the market and further strengthens the wider Ethos Broking group.”
Ethos Broking insists that is pipeline of acquisition activity will continue throughout 2021, despite COVID.