Higos Insurance Services, a broker with 20 offices which was itself acquired earlier this year, has announced the acquisition of South West broker Colin Fear. The deal is Higos’s second in four months, after it purchased Bude-based Courtenay in March.
Commercial insurance broker Colin Fear Insurance Services was established in 1989 by Colin and Justin Fear, focusing initially on serving Bridgwater, Somerset and the surrounding areas, before expanding its business in the South West.
Higos managing director Ian Gosden said the acquisition of Colin Fear would “strengthen our position in the Bridgwater region, where we have recently opened our new branch,” adding that he warmly welcomes MD Justin Fear, along with his team, to Higos.
“I am delighted that Colin Fear Insurance Services will be joining Higos. Justin Fear and his team are highly professional and have served their loyal client base with distinction,” Gosden commented.
Fear, who confirmed that he would retain his involvement with the business along with his six-strong team, said: “I am extremely pleased that we have joined Higos. It represents an excellent opportunity for both parties, with our clients benefitting from a wider range of competitive products and customer service at the highest level.
“The move provides strong career opportunities for our staff and our clients can only benefit from this merger. I have great respect for Ian Gosden, and his team, and look forward to exciting times ahead under the broader Higos and GRP umbrella.”
In March this year, Higos was itself acquired by Global Risk Partners, the specialist investment vehicle for brokers and MGAs. Mike Bruce, GRP’s CEO of broking, welcomed the acquisition of Colin Fear, describing it as the next step in a series of planned deals by Higos to build out GRP’s UK hub strategy in the South West.
The latest deal remains subject to regulatory approval. Terms were not disclosed.
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