Higos Insurance Services has announced the acquisition of Colin Fear Insurance Services, subject to regulatory approval. The consideration is undisclosed.
Higos managing director Ian Gosden said the deal is the second in four months following the purchase by Higos of Bude-based Courtenay in March.
Ian Gosden said: “I am delighted that Colin Fear Insurance Services will be joining Higos. Justin Fear and his team are highly professional and have served their loyal client base with distinction.”
“This acquisition strengthens our position in the Bridgwater region, where we have recently opened our new branch, and I warmly welcome Justin and his team to Higos.”
Colin Fear Insurance Services was established in 1989 by Colin and Justin Fear. The business primarily focused on serving Bridgwater and the surrounding areas and has since expanded to build a reputation as a reliable and trusted insurance provider in the South West.
In March this year, Higos was itself acquired by Global Risk Partners Ltd, the specialist investment vehicle for brokers and MGAs. Mike Bruce, CEO Broking for GRP welcomed the announcement and said the acquisition of Colin Fear is the next step in a series of planned deals by Higos to build out GRP’s UK hub strategy in the South West.
Justin Fear, managing director of Colin Fear, said: “I am extremely pleased that we have joined Higos. It represents an excellent opportunity for both parties, with our clients benefitting from a wider range of competitive products and customer service at the highest level.
“The move provides strong career opportunities for our staff and our clients can only benefit from this merger. I have great respect for Ian Gosden, and his team, and look forward to exciting times ahead under the broader Higos and GRP umbrella.”
Mr Fear confirmed that he would retain his involvement with the business along with his six-strong team.