It has been a busy week in the insurance sector and the streak of recent acquisitions is showing no signs of slowing down. Belfast-based Willis Insurance and Risk Management (Willis IRM) today announced its acquisition of Leeds-based firm, Hale Kavanagh Insurance Brokers Ltd, for an undisclosed sum.
Established in Northern Ireland in 1978, Willis (IRM) has a total group GWP of £45 million and this acquisition is its latest since its purchase of Kennett Insurance Brokers and McCausland Light and Rankin.
Specialising in general insurance broking, Hale Kavanagh has been operating since 2011 and employs 10 individuals in its Leeds office. As part of the acquisition, former managing director, Julian Hale, will leave the company while the other existing staff will remain, and Hale Kavanagh will shortly begin trading under the 40-year-old Kennett brand.
“Hale Kavanagh, Kennett and Willis IRM all share high level service-orientated values and as independent brokers we strive to put the customer first,” said Kennett managing director Luigi Maggio. “Leeds is the UK’s fourth most populous region and the major financial and commercial hub in West Yorkshire with a diverse economy, making it an ideal location to expand our expertise and breadth of services.”
Willis IRM Group managing director, Richard Willis (pictured above), commented on his excitement at furthering the business outside of Northern Ireland.
“Over the last four years, our firm has grown significantly with staff numbers trebling during that time to 108, something which we are very proud of,” he said. “It also highlights our growing client base across the UK with our Kennett Insurance Brand, all of which have access to our full-service offering of risk management, health and safety, financial services and employment law.
“It is well known that we are always striving to expand the group’s portfolio through the strategic acquisition of like-minded independent brokers. We’re looking forward to working alongside the Hale Kavanagh staff in Leeds and we will continue to seek further opportunities to grow our business.”