Hot on the heels of December’s acquisition of Thompson & Richardson, Broker Network, the UK’s leading network for independent insurance brokers, has today completed the purchase of its fourth regional powerhouse Saffron Insurance, based in East Anglia.
This deal will see Managing Director, Dave Beswick and his team stay on at the brokerage and continue their acquisition programme.
Established over sixty years ago, Saffron Insurance has grown considerably in the last twenty years and has developed into one of East Anglia’s largest independent insurance brokerages. The business, which controls in excess of £30m GWP, employs over 120 people across its 12 offices and is strongly focused on commercial lines business.
Commenting on the partnership, Des O’Connor, Broker Network’s Chief Commercial Officer said: “We have a strong infrastructure of people, processes and systems established over 25 years ago which sets us apart from competitors. The investment in our fourth Centre is exciting and I firmly believe the combination of Broker Network working alongside Dave and the Saffron team will dominate the broking landscape of East Anglia.
“Saffron is a very acquisitive business and will take a similar route to our first Broker Network Partner, Finch Group. We are however being thoughtful and considered in our approach and are making decisions for the long term.”
Dave Beswick, MD at Saffron Insurance added: “My passion has always been to grow this business and I’m really proud of what the team has achieved recently. We now need to move to the next stage so that we can capitalise on opportunities and meet evolving customer needs. Des O’Connor and Broker Network are a great partner for us and I believe this presents a compelling solution for any broker in the East seeking a sale.”