Seventeen Group, a multi-disciplined insurance and risk management organisation, has announced that it successfully acquired Bryce Smith & Partners (BSP) on July 29.

Pimlico London-based BSP was established in 1985 by Richard Bryce Smith. It handles £1.3 million gross written premium (GWP), focuses on private clients, and has supported a small number of key insurers over the years.

The acquisition saw BSP integrate into Seventeen Group’s broking subsidiary James Hallam while Bryce Smith remains with the business to maintain client relationships.

Seventeen Group CEO Paul Anscombe welcomed Bryce Smith to his team and the company board.

“Private clients is a significant and highly valued portion of the total James Hallam portfolio, and so this represents a very good fit for both parties,” he added.

Bryce Smith added that the acquisition benefits BSP’s clients by providing access to more markets and products while retaining the status of an independent company.

“All of this makes for a good fit, which is why I am looking forward to the exciting times ahead working alongside my new colleagues,” he said.

The deal follows the Southwest expansion of Seventeen Group’s Cornish team after merging its marine and marine trades teams.