Seventeen Group, a UK-based insurance coverage and threat administration organisation, has introduced the acquisition of East Pennine Insurance coverage Consultants (EPIC).
Monetary particulars of the transaction haven’t been disclosed.
The most recent acquisition marks Seventeen Group’s entry into the Yorkshire market.
EPIC, which is understood additionally as Fletcher Smith in Sheffield and North East Insurance coverage Brokers within the North East, was established in 1985.
It presently controls £6.1m ($7.7m) in gross written premium.
The corporate gives a spread of insurance coverage providers together with materials harm/property, motor commerce, merchants mixed/enterprise cowl, motor fleet and industrial car, employers’/public and merchandise legal responsibility, cash and constancy assure, marine and transit, {and professional} indemnity.
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At current, EPIC’s workforce consists of 9 staff, together with administrators Steve Brooke and Simon Walton.
With EPIC’s robust foothold within the motor commerce sector, Seventeen Group plans to ascertain EPIC as a ‘centre of excellence’ for this class of enterprise.
The acquisition is anticipated to bolster Seventeen Group’s motor commerce insurance coverage experience and create broader alternatives for each Seventeen Group within the North and James Hallam.
James Hallam Insurance coverage Brokers is an impartial Lloyd’s dealer and a subsidiary of Seventeen Group.
This acquisition additionally aligns with Seventeen Group’s technique to develop its regional companies all through the UK.
Seventeen Group CEO Paul Anscombe provides: “I’m happy to welcome the EPIC workforce. That is our first acquisition in Yorkshire and so represents an enormous alternative to construct our presence going ahead.
“We have now achieved vital success in growing different regional companies throughout the UK and EPIC creates extra worth by way of its intensive motor commerce information and expertise.”
Since its basis in 1982, Seventeen Group has developed right into a multifaceted insurance coverage and threat administration entity, actively investing within the UK insurance coverage market since 2001.
The acquisition follows Seventeen Group’s latest expansions, together with the acquisition of Wiseman Insurance coverage Companies and North West Danger Options earlier in June 2024.
In March 2024, Seventeen Group introduced the acquisition of Keith Miller Insurance coverage Companies and a guide of enterprise from Hendricks Insurance coverage.
