Alan Boswell Group, one of the UK’s leading insurance brokers and financial advisers, today announced its acquisition of Sutcliffe Solloway & Company Limited (trading as Sutcliffe Insurance Brokers), expanding its business into Lincolnshire.
The move sees the Norwich-based group’s gross written premium figure rise from £85million to £90million. Since its formation in 1982, the company has grown to become one of the largest independent insurance brokers in the UK, with strong capital reserves and more than 50,000 clients across the country.
The acquisition will also see a further 25 members of staff, based at offices in Boston and Grimsby, join the group, bringing the total number of employees to 325.
The news follows the acquisition of S-Tech Insurance Services in Cambridge in late-2016, and the launch of its risk management arm last month.
With a heritage dating back to 1977, Sutcliffe arranges a wide range of commercial insurance products, with specialisms in the marine trade and heavy industry, as well as providing personal lines including home, car and landlord insurance.
Says Executive Chairman Alan Boswell: “We’re pleased to make this announcement as we head into a new financial year. The Group has been growing at a steady rate and Sutcliffe Insurance Brokers is a natural fit for our continuing expansion, offering services complementary to our own.”
Sutcliffe Insurance Brokers’ Managing Director Mike Kirman further comments: “This is a fantastic opportunity for Sutcliffe. Not only does it enhance the range of services we offer to existing clients – including risk management -- but it also brings the stability and support of a larger group to the business.”