The long-standing Monmouthshire-based insurance brokerage, FR Ball, has today announced its acquisition of the London-based firm, Export and General Insurance Services.
In a Press release, FR Ball, which was established in 1965 and specialises in both commercial and personal lines insurance, noted that it has enjoyed significant growth in recent years – acquiring Lawson D Jones and merging with Wessex Insurance Brokers Ltd.
FR Ball initially purchased a portion of Export and General Insurance Services’ book which complimented its existing book of scheme business in the Archaeological and Men’s Sheds insurance sectors. The firm was then approached by the broker to take on the remainder of the book which was due to be sold to a larger broker.
Under the terms of the deal, the business will be managed by Wessex Insurance Brokers Ltd from its Overton offices, enabling it to continue to serve London and the M25 belt.
Commenting on the acquisition, Paul Wadsworth, managing director of FR Ball said: “It has been great to work with Export and General Insurance Services over this time. The shareholders offered us the remainder of the business because we made the transfer of the schemes business both easy and transparent which is a real testament to the entire team at FR Ball and Wessex.
“As our third deal in 12 months, our acquisition team are fast gaining experience, with each being totally different. We’re looking forward to the next.”
Dr John Mitchell of Wessex also commented on the move and said: “We have a strong team and a great brand at Wessex which will only be made stronger with the addition of Export and General Insurance Services. It will allow us to expand our reach across the London area, as well as our specialist schemes offering.”
“The acquisition complements our existing schemes and will enable us to develop our Aviation experience with an existing portfolio and pipeline as part of this acquisition.”
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