Chester-based Daulby Read Insurance has celebrated its third acquisition within 12 months as it welcomes Hornby Snape Insurance Services into the family.
The Chelford-based brokerage is firmly established in its local area and boasts a strong agricultural book of business. The purchase will see Daulby Read grow its overall GWP to circa £7m, up from £2.9m in early 2020.
This is the third Bravo Networks brokerage that Daulby Read has purchased in under a year, with Townsends Insurance joining the business in November 2020 and Much Ado Insurance following suit in June 2021.
All the team at Hornby Snape will be retained, as will the Chelford office and the business will continue to operate under the Hornby Snape brand. Phil Hornby, Managing Director, will also remain at the helm.
Peter Goddard, Managing Director of Daulby Read, comments: “Expanding so rapidly during lockdown has been no mean feat, but what I think it demonstrates is that there is a significant appetite for a more personal exit option. We’re looking to offer an alternative way and being part of the Bravo Networks community is really useful to allow us that networking space where we’re able to have those honest conversations with our peers.
“We’ve seen the Townsend business grow by 30% over the past year which is hugely encouraging, and I’m excited to see the impact we can make together with Phil and the Hornby Snape team in the coming months and years. Not only is this a business we have long admired but it’s also a great tactical move for us to be able to push forward in the agricultural space as well as growing our geographical footprint.”
Phil Hornby, Managing Director at Hornby Snape, adds: “Pete and the team at Daulby Read very much share our business values of offering that personal customer service which is crucial to our brand. I was extremely keen that if we were to sell, it would only be to the right business who would protect our people and our name, and that’s exactly what we’ve achieved with Daulby Read. I’m excited to see what the future holds as we move into 2022.”