Bollington Group (Holdings) Limited today announced that they have merged with Wilsons Insurance Brokers after securing investment funds from mid-market private equity firm Inflexion. The new structure, Bollington Wilson Group, will generate annual gross written premiums in excess of £120m.
Focused on niche products, Bollington and Wilsons operate complementary product lines in commercial and personal insurance. Bollington operates in a number of distinct areas including corporate risks, fleet and risk management in addition to specialist niche sectors such as motor trade, courier and care & charity. Wilsons offer a broad range of personal insurances such as car, home, van, taxi and residential property owners.
Both businesses will continue to trade under existing brands, capitalising on their heritage and strong reputations. Customer service is paramount and their combined customer base will now benefit from an increased range of products and a wider choice of well-known insurers.
Working closely with Paul Moors and John Wilson, respectively CEO and Chairman of Bollington Wilson Group, Inflexion will help to digitally enhance and integrate operations; this will create a strong platform to support acquisitions and embed customer service excellence.
Paul Moors, Bollington Wilson Group CEO, commented “We believe this creates more choice and more flexibility for all of our valued customers. With Inflexion’s track record in integration and acquisitive growth we are truly excited about the future of our new group and the prospect of further acquisitions. Their support will help Bollington Wilson Group expand across the U.K. and develop further product lines. We look forward to an ambitious partnership together.”
John Wilson, Bollington Wilson Group Chairman, commented, “There are many opportunities across commercial and personal insurance broking that can be enhanced by increased scale. The merger of Bollington and Wilsons creates a compelling platform from which to realise those opportunities. Meeting Inflexion has been transformational for our businesses and we look forward to the next stage of growth.”
Simon Turner, Managing Partner, Inflexion, commented, “We are delighted to complete the double buyout and immediate merger of Bollington and Wilsons. Our team spotted this compelling merger opportunity and navigated through a complex transaction process. Leading discussions with the ambitious management team of each business, we shared a vision for accelerated growth under this new structure. We welcome them into Inflexion’s portfolio and look forward to working in partnership.”
The new Group Board will consist of Paul Moors (Bollington), Chris Patterson (Bollington), Patrick McDonnell (Bollington), John Wilson (Wilsons), Gareth Hooper (Wilsons), Carl Wormald (Inflexion) and Malcolm Coffin (Inflexion).
This follows the recent announcement on 23rd October 2017 confirming that Bollington has launched a new MGA, Anjuna Underwriting.