Brown & Brown (Europe), a division of insurance coverage dealer Brown & Brown, has introduced the acquisition of two UK-based firms to broaden its retail operations.
The corporate didn’t disclose the monetary particulars of the transactions, which embody Garratts Insurance coverage Brokers (Garratts) and the enterprise and belongings of BNF Insurance coverage Companies (BNF).
Garratts was established in 1877 by George Garratt.
Beneath the management of present administrators Richard Garratt and John Grindley, the corporate is alleged to have skilled a interval of development, providing a various vary of merchandise to industrial and small enterprise purchasers, property house owners, charities and contractors.
The FCA has authorised the acquisition.
Brown & Brown (Europe) regional managing director Alastair Christopherson stated: “We’re thrilled to be buying a enterprise with such a long-standing household historical past, and we look ahead to welcoming Richard, John and the remainder of the Garratts’ workforce.
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“The enterprise will proceed working in Preston and I look ahead to supporting them as they embark on the following stage of their journey as a part of the Brown & Brown workforce.”
Located in Clacton, Essex, BNF is a retail dealer that specialises in insurance coverage for industrial entities, creatives, in addition to property and motor insurance coverage.
Barry Burns, the only real proprietor of BNF, alongside along with his workforce, will be a part of the Brown & Brown workforce on the WM Brokers workplace in Ipswich, extending the corporate’s companies to the East Anglia area.
International Danger Companions, additionally part of Brown & Brown, acquired WM Brokers in July 2022.
WM Brokers managing director David McGowan stated: “It’s nice to welcome Barry and his workforce to Brown & Brown. He has run a extremely profitable brokerage with a top quality e-book of shoppers and a robust affinity for the native space the place his enterprise operates. BNF might be a invaluable addition to our portfolio.”
This transfer follows Brown & Brown (Europe)’s acquisition of R McGee Insurance coverage Brokers, a family-run brokerage based mostly in Maesteg, Glamorgan, in December 2023.
R McGee has been offering impartial recommendation and insurance coverage options to people and companies since 1974.
