Acquisitive broker placed £30m last year

The County Group grew the amount of GWP it controls from £20m to about £30m in the year to September 2013 following its acquisition of Newcastle-based broker JSW last summer.

The company, which is split 95% commercial lines to 5% personal, grew this organically by £4m, while £6m came from the acquisition.

County group chief executive Dave Clapp told Insurance Times the broker is also on course to meet its target of £35m by September this year.

And added the firm plans to become a £50m broker within the next four years, through continued organic growth and further acquisitions.

Clapp said: “We just want to continue to hit those numbers and strive forward.

“We are delighted with how the JSW acquisition has bedded into the company and the figures that it is achieving for us.”

“Our whole aim is to have as many sites local to the customer. We want to make sure we are as close to the customer as possible.”

County group is also in advanced acquisition talks with several commercial brokers and is expected to conclude the deals in the summer.

“We are looking for businesses that have got a good customer base. The majority of their businesses will be within a 30-mile radius of their office,” Clapp added.

“We are looking for businesses with a steady income line, with no massive peaks and troughs, and if you look over a three- to five-year period at the business there is a continuous steady flow of income – something that is a safe bet to be there for another 10 years.”

County has about 150 employees including the 25 that joined from JSW.

Topics