An insurance broker needs to be able to do a lot of things, generate leads not least among them. A good insurance broker needs to have a wide, comprehensive reach in order to properly accomplish this.
The Norwich, England based independent insurance brokers, the Alan Boswell Group, has made a move to increase their reach. In a deal whose important details remain hidden to the public, the Alan Boswell Group has acquired the Sutcliffe Solloway & Co. Ltd., which operates under the more known name as Sutcliffe Insurance Broker. This move effectively expands the Alan Boswell Group’s operations into Lincolnshire, England.
Additionally, it also increases the Alan Boswell Group’s gross written figure, increasing it to £90 million ($110 million), a £5 million increase from the pre-deal value of £85 million ($103.8 million). The company has made its statement regarding its growth, which has allowed it to establish itself as one of the biggest indie insurance brokers of UK, since its founding in 1982. The deal has not only expanded the reach of the Group, but has also increased the number of personnel under the group’s employ, adding an additional 25 staff members, who are currently located in the Sutcliffe offices in the Boston and Grimsby areas. This increases the Group’s number of employees to 325.
This recent development follows the trend set by the acquisition of S-Tech Insurance Services in the closing quarters of 2016, which happened in the Cambridge region.
The Sutcliffe Solloway & Co. Ltd was founded in 1977, and has since established itself as a reliable provider of a myriad of commercial insurance products. The company currently specializes itself in marine trade and heavy industry. Additionally, they also provide personal insurance, like home insurance, car, landlord, etc.
The Executive Chairman of the Alan Boswell Group, Alan Boswell, has expressed the company’s excitement for the development, stating the Group’s steady growth as a big factor in this decision. He states that Sutcliffe is perfect for their plans in expansions. Mr. Boswell states that the Sutcliffe provides complimentary services to theirs, helping the independent broker generate leads, take care of their customers, etc.