Cullum Capital Ventures is another step closer to reach-ing its 2007 target of controlling £100m of gross written premium (GWP), following its latest acquisition of Liverpool–based Ajax Insurance Brokers.
With a GWP of £3m, Ajax Insurance Brokers is CCV’s 14th acquisition, taking the company to over £70m in annual premiums.
CCV chief executive Tim Johnson said: “Ajax has an excellent trading history and a long established client base in the North West.”
David Bunting, managing director of Ajax, added: “We considered a number of potential homes for our business and felt that CCV was ideal for our customers, staff and equally import-antly for the ongoing devel-opment of the company.”
In June, CCV surpassed its launch aim of controlling £50m GWP, having made12 acquisitions totalling £65m.
CCV was launched in April 2006 to acquire small and medium sized regional brokers with between £3m to £10m GWP.
It offers a bespoke service of investment and shareholding with the brokers maintaining their autonomy.