It was back in March last year that Insurance Business spoke to Saffron Insurance about its acquisition streak – the firm having announced two acquisitions within the space of a week. Now it seems the firm is back on the acquisition trail and kicking off 2019 in style.
Broker Network’s East Anglian partner has today confirmed its acquisition of Farmer Insurance Brokers, a Broker Network member. The latter, based in Romford, was formed back in 1999 by Derek Farmer and focuses predominantly on commercial lines including property owners, liability and fleet. It boasts 10 staff with GWP in the region of £2 million.
Announcing the deal, David Beswick, the managing director of Saffron, noted that the firm will retain its existing premises and all members of staff will stay on.
“I’m thrilled to welcome Derek and his team to Saffron,” he said. “The team have fantastic broking knowledge and a strong customer base which will enhance our overall offering. To have acquired three businesses within a 12-month period is a great achievement for Saffron and I look forward to moving into 2019 with a strong pipeline of further opportunities.”
Saffron now boasts 145 members of staff across 11 offices.