Ethos Broking UK has made its third acquisition of 2021 as it brings Drayton Insurance Services into the group.
The purchase, via Ethos Broking’s Norwich-based regional broking hub, Hugh J Boswell, expands Ethos Broking’s footprint in the East Anglia region. Drayton Insurance Services was founded in 1997 and is now one of the larger brokers within the area, with offices in Norwich, Poringland, Aylsham and Ipswich. The brokerage handles £14m GWP and employs 40 people, all of whom will stay with the business following the completion of the deal today.
Commenting on the purchase, Richard Tuplin, Ethos Broking UK CEO, said: “I’m delighted to welcome such a strong brokerage into the Ethos Broking family. The team at Drayton Insurance Services are experts in their field and their knowledge in the personal lines and SME space will perfectly complement Hugh J Boswell’s strong commercial lines capability. It’s great to see Graeme Wooden, Managing Director at Hugh J Boswell, bringing his first acquisition over the line and it demonstrates that despite the tough circumstances we find ourselves in, with the right mindset and the right people around us we can still very much push forward as a business for the benefit of our clients.”
Earlier this year, Ethos Broking acquired Hampshire-based Headley Group and Piccadilly based Chambers & Newman. Despite COVID-19 affecting many business plans, the Ethos Broking strategy remains unaffected with a strong pipeline of acquisition activity throughout 2021.