Clement Gallagher & Co co-founder Walter Walmsley to retire and office to relocate to Southport
County Insurance Group has bought £1.25m premium income Liverpool-based broker Clement Gallagher & Co.
Following the acquisition, Clement Gallagher co-founder Walter Walmsley will retire, while director John Cassidy will continue to run the business.
The firm, which has a predominantly commercial book, will also relocate to Southport.
Cassidy said: “This is an excellent move for both us and our clients. We remain in the heart of Merseyside where we have been for over 45 years, yet benefit hugely in areas where County Insurance has existing expertise such as marketing and compliance.
“Having this in-house will make a huge difference to our business. Our clients will also now have access to a wider panel of insurers and even more competitive insurance solutions.”
County Insurance now controls more than £37m in gross written premiums, with a branch network of seven offices and over 150 staff.
Group chief executive Dave Clapp said: “The business is very well established, being over 40 years old, and highly regarded in the region. It fits perfectly into The County Group strategy of providing a local broker service to communities.
“This is our second acquisition in 12 months. By acquiring these businesses, we add to our branch network and further expand our strategy into serving local communities.
“It makes perfect sense to us as we are inheriting excellent and highly experienced staff and at the same time we can improve the business via our schemes, marketing and operations expertise – making it more profitable and efficient.”
The broker plans to grow through further acquisitions as well as organic growth.