Combined business will control £50m of premium
Beaumonts Insurance Brokers has completed its acquisition of Bradford based brokers E Farley and Sons.
The acquisition will see Beaumonts take on all the staff from E Farley – increasing the broker’s staff headcount to just over 150.
The business will be divided between the two main Beaumonts branches in Leeds and Bradford.
Beaumonts also has offices in Shrewsbury and Doncaster with a general business income of more than £8m.
The enlarged Beaumonts will place more than £50m of premiums in 2014, the company said.
Beaumonts director Gary Proctor said: “The minute we started talking the synergy was clear. Both companies have attained the chartered broker status awarded by the Insurance Institute (CII) and both are committed to risk management and client service.
“The continued development of all the staff to achieve the highest standards of knowledge, professionalism and commitment is of paramount importance to both companies.”
Farley’s managing director Stephen Howard added: “Although we have been a family business for over 80 years, the shared ethos of the two companies makes me very comfortable with the decision to join Beaumonts who are providing an assured future for all my staff.
“This, together with the on-going service standards which our clients will enjoy means my two priorities have been achieved.”
Beaumonts has agreed to a further acquisition which is expected to be completed on at the end of the year. The business will be consolidated into its Horsforth Office in Leeds.