Fast growing ‘Finch Commercial Insurance Brokers’ based in Reading, Berkshire and Basingstoke, Hampshire has made 2 purchases in the last 3 months!.
In early April 2015 the general business of Atwoods Limited (a Broker Network member), based in Great Bookham in Surrey was acquired. The book was made up of mid-high net worth Private Clients as well as a loyal SME Commercial client bank. The gross written premium transferred across was circa £1M and the existing ‘Finch Private Clients’ team will ensure smooth continuity for the Atwoods clients.
Finch MD Vincent Gardner commented: “Jackie Titman and the team at Atwoods really looked after their clients with a boutique service level that we must aspire to match and surpass. They will continue to trade Financial Services business but now act as an introducer to Finch on all of their client general insurance needs”
A second, larger transaction was completed on 1st July, when Finch Commercial Insurance Brokers acquired Paul Jones Insurance Services Limited, which has offices in Southampton and Cowes, Isle of Wight. Both branch offices will be maintained and all of the 13 full and part-time staff will continue in their current roles.
‘Paul Jones’ is a Willis Network member and places £3.4M of gross written premium through the network and on the ‘open market’. Outgoing MD Tony Symons will remain with Finch in a Branch Manager capacity.
Gardner further commented: “We are delighted to have Tony and his team coming on-board. Paul Jones Insurance, like Finch, is 85% Commercial and follows our high service ethic enjoying a market reputation to be proud of. We are particularly pleased to expand our Branch network onto the south coast and expand our ‘footprint’ in an area that we feel we can continue to follow our growth aspirations.”
These 2 acquisitions increase the Finch gross written premium to £20M.