Bob Beckett has sold his general insurance broking business to Country Mutual, creating one of the biggest brokers in the UK.
The combined premium income of the two groups is approximately £160m. The combined group would be the 23rd or 24th largest broker in Britain, based on rankings in the Insurance Times Top 50 Brokers 2003 (published in July).
Beckett, the biggest independent force in East Anglia, said that the deal was too good to refuse. Bob Beckett will continue as chairman of the fledgling Total Broking Solutions network. Beckett will continue to run his IFA and asset management business. Staff and offices related to TBS will not be transferred to Country Mutual.
The business transfers on 31 December 2003 and will boost the number of Country Mutual offices from 18 to 22. The Beckett Group has offices in Bury St Edmunds, Kings Lynn, Leicester and Oakham.
Bob Beckett will be joining the board of Country Mutual with special responsibility for strategic relationships with the insurance market.
All of Beckett's general insurance team will transfer to Country Mutual.
